Cold Snap Could Send Natural Gas To $5

The natural gas market is looking rather tight, even as U.S. production continues to set new records.

Inventories fell sharply last winter, leaving the country a little light on stocks heading into injection season. That did not concern the market much, with record-setting production expected to replenish depleted inventories.

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Cedar Hill, Texas, October 24, 2018 Since 2014 U.S. Energy Assets LLC has successfully guided and placed interest owners in 82 oil and gas wells in 7 different Counties in the Eagle Ford Shale in South Texas.  August cumulative production from these wells was: 142,214 BO (Barrels of Oil) and 152,297 MCF (Thousand Cubit Feet of Natural Gas).

The Eagle Ford Shale Trend is located in South Texas (the “Trend”) as currently delineated is approximately 40 miles wide and 500 miles long, it encompasses 30 South Texas counties, 20,000 sq. miles, 12,800,000 acres, and is still growing as the Play expands to the East and South. “The Eagle Ford Shale Trend is larger than the state of Maryland”.  Source: Wood Mackenzie.  Since its discovery in 2008, over 17,000 horizontal wells have been drilled and completed in the Trend. Source: Railroad Commission of Texas (RRC) March 2017.

The Eagle Ford Shale Trend’s daily production of crude oil and condensate exceeded 1,200,000 barrels per day, over 13.04% of the U.S.’s total daily production.  Source: U.S. Energy Information Administration (EIA) March 2017.  Daily production is predicted to grow to over 2,000,000 barrels of oil and condensate per day by the end of this decade. Source: Wood Mackenzie.  In November 2014 cumulative Eagle Ford Shale Trend production hit the 1 billion barrel milestone; over 70% of the 1 billion barrels were produced in the last two years. Only two oil fields; Saudi Arabia’s Ghawar and Alaska’s North Slope have reached 1 billion barrels in cumulative production faster. Source: Wood Mackenzie December 2014.

It is estimated that the Trend contains recoverable resources of 25 billion barrels of oil equivalent  (BOE) placing the Trend as perhaps the United States largest oil reserve and the 8th largest oil field in the world in terms of estimated ultimate recoverable reserves (EUR). Source: Tudor Pickering Holt & Co 2013.  It is estimated that the average well in the Trend will produce 500,000 barrels of oil equivalent (BOE) over its economic life. Source: Railroad Commission of Texas 2012.  It is also estimated that it will take over two decades and 90,000 wells to develop the Eagle Ford Shale Trend. Source: W.D. Von Gonten & Company, Petroleum Engineers 2012.

U.S. Energy Assets’ experienced acquisitions team enjoys deep, long-term relationships in the most active fields in the U.S., driving significant amounts of deal flow.  Over his many years in the industry, U.S. Energy Assets’ Founding Principal has facilitated the purchase and sale of millions of dollars worth of producing oil and gas projects.


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Prices Soar As Natural Gas Inventories Hit Decade Low

Natural gas prices have spiked over the last few weeks as U.S. inventories run low ahead of the peak winter heating season.

Nymex natural gas prices have jumped nearly 15 percent over the past month, rising to roughly $3.30 per million Btu (MMBtu). The market has clearly grown a little concerned about adequate supplies heading into the winter and that is reflected in natural gas prices rising to their highest point since the beginning of the year.

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‘If they don’t have the barrels, they don’t have the barrels’: Oil could soar to $100 as Trump shuts Iran out of the market

The State Department has ordered buyers to cut oil imports from Iran by November 4.

Against a backdrop of falling output from other key OPEC countries, analysts say barrels could hit $100.

Less than a month before another round of US sanctions against Iran take effect, analysts say hundred-dollar oil could be on the horizon.
The Trump administration has called on buyers to cut off oil imports from Iran in efforts to pressure the third-largest OPEC producer to change its behavior, a move that could squeeze global supply and pressure prices that are already at four-year highs. Brent, the international benchmark, is currently trading around $85 a barrel.

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The Next Pillar Of Oil Demand Growth

The debate about peak oil demand always tends to focus on how quickly electric vehicles will replace the internal-combustion engine, especially as EV sales are accelerating. However, the petrochemical sector will be much more difficult to dislodge, and with alternatives far behind, petrochemicals will account for an increasing share of crude oil demand growth in the years ahead.

Petrochemicals don’t receive much attention in the media, but its fingerprints are everywhere. They are used in plastics, fertilizers, packaging, clothing, dyes, cleaning products, cosmetics, medicines, tires – a seemingly limitless number of end-uses. They are so ingrained and embedded into modern life that they are almost unnoticeable.

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