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• A&D Trends: ‘Times Have Changed’
  Hart Energy - Schlumberger...
  
  

  
  
  Hart Energy - Schlumberger Ltd. chairman Mark Papa told an audience at the International Petroleum Technology Conference on Jan. 13 that he expects shale production to grow by just 400,000 barrels per day (bbl/d) in 2020, according to the Journal of Petroleum Technology.
  
  This echoes comments made in November by Centennial Resource Development Inc. CEO Mark Papa, who said at the time, “I now think that 2020 year-over-year oil growth will be roughly 400,000 barrels per day.”
  
  It’s good to see that they agree. Papa’s reasoning, regardless of the corporate hat he’s wearing at any given time, is that shale oil is a finite resource.
  
  

  
  
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• Crude-oil prices settle at a nearly 3-week high
  MarketWatch -Oil futures posted their...
  MarketWatch -Oil futures posted their highest settlement in nearly three weeks on Wednesday, with Brent oil tallying seventh straight session advance.
  
  The U.S. imposed sanctions on an arm of Russian oil giant Rosneft, raising some oil-supply concerns, and the reported number of new daily cases of China’s coronavirus declined, easing worries about the disease’s impact on the economy and on energy demand.
  
  On Tuesday, the Trump administration blacklisted the trading brokerage owned by Russia’s Rosneft that the U.S. accuses of helping the regime of Venezuelan President Nicolás Maduro.
  
  West Texas Intermediate crude for March delivery rose $1.24 to settle at $53.29 a barrel, after ending Tuesday’s session unchanged. The March contract expires at Thursday’s settlement.
  
  April Brent crude meanwhile, picked up $1.37 to $59.12 a barrel. It posted its seventh straight gain.
  
  Both benchmarks logged their highest settlements since Jan. 29, according to Dow Jones Market Data.
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• ‘Staggering’ Debt Has North American E&Ps, Especially Natural Gas-Weighted, Risking Default
  Natural Gas Intelligence -With a “staggering level” of...
  Natural Gas Intelligence -With a “staggering level” of debt maturing in the 2020-2024 time frame and limited access to credit, North America’s exploration and production (E&P) companies, particularly natural gas-focused operators, face an increased risk of default, according to new research from Moody’s Investors Service.
  
  North American E&Ps have around $86 billion of rated debt set to mature in 2020-2024, Moody’s analysts led by Sajjad Alam and Steven Wood wrote in a report published Wednesday. Of this total, 62% is speculative-grade debt, with the remainder investment-grade. Around 57% will come due through 2022, which figures to “put significant stress on speculative-grade companies,” the Moody’s analysts said.
  
  Natural gas-weighted E&Ps and “lower quality” operators will encounter difficulties getting access to capital in 2020, according to Moody’s.
  
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• EIA expects U.S. natural gas production, exports to increase until 2050
  HOUSTON, Feb. 19 (Xinhua) -- Total dry natural gas production in the United States will...
  HOUSTON, Feb. 19 (Xinhua) -- Total dry natural gas production in the United States will continue to increase until 2050, primarily to support growing U.S. exports of natural gas to global markets, U.S. Energy Information Administration (EIA) said Wednesday.
  
  EIA expected U.S. dry natural gas production to total 34 trillion cubic feet in 2019 and projected that U.S. dry natural gas production will reach 45 trillion cubic feet by 2050.
  
  According to EIA, the United States began exporting more natural gas than it imports on an annual basis in 2017, driven by increased liquefied natural gas (LNG) exports, increased pipeline exports to Mexico, and reduced imports from Canada. EIA estimated that U.S. net natural gas exports continue to increase through 2050, and most of the increase is in the near term.
  
  The forecast represented EIA's best assessment of how U.S. and world energy markets will operate through 2050, assuming that no significant changes in energy policy occur.
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• Tuesday's WTI Oil Price Unchanged
  CNBC - Oil prices were little changed on Tuesday, pressured by concerns over...
  CNBC - Oil prices were little changed on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.
  
  Brent crude was up 8 cents at $57.75 per barrel. U.S. West Texas Intermediate crude futures settled unchanged at $52.05. Earlier in the session, WTI fell to a session low of $50.88 per barrel.
  
  Though new cases of the coronavirus in mainland China have dipped, global experts said it was too early to judge if the outbreak is being contained. Forecasters including the International Energy Agency (IEA) have cut 2020 oil demand estimates because of the virus.
  
  Oklahoma crude oil prices as of 5 p.m. Tuesday:
  
  Oklahoma Sweet: Sunoco Inc.   —$48.50
  
  Oklahoma Sour: Sunoco Inc.   —$36.50
  
  
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