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Current Issues & Trends

M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms

M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms

Permiancrude oilliquid fuelsnatural gasoil/petroleumproduction/supply

3/19/2024
First-quarter capital spending by public U.S. oil companies up, cash from operations down

First-quarter capital spending by public U.S. oil companies up, cash from operations down

crude oilexplorationoil/petroleumpricesquarterly

8/10/2023
Public U.S. oil producers saw higher revenues and higher operational costs during Q1 2022

Public U.S. oil producers saw higher revenues and higher operational costs during Q1 2022

WTI (West Texas Intermediate)costscrude oilrevenue

7/22/2022
U.S. oil producers increased capital expenditures and cash from operations in late 2021

U.S. oil producers increased capital expenditures and cash from operations in late 2021

crude oildrillingliquid fuelsoil/petroleumwells

5/5/2022
U.S. oil producers may be facing supply chain issues as they increase capital expenditure

U.S. oil producers may be facing supply chain issues as they increase capital expenditure

crude oildrillingoil/petroleumproduction/supply

4/27/2022
In 2021, natural gas generated a larger share of revenue for selected U.S. oil producers

In 2021, natural gas generated a larger share of revenue for selected U.S. oil producers

liquid fuelsnatural gasoil/petroleumrevenue

9/30/2021
U.S. exploration and production companies are issuing new debt and equity

U.S. exploration and production companies are issuing new debt and equity

production/supply

4/23/2021
In 2019, the U.S. imported $13 billion of energy goods from Mexico, exported $34 billion

In 2019, the U.S. imported $13 billion of energy goods from Mexico, exported $34 billion

Mexicocrude oilexports/importsliquid fuelsnatural gasoil/petroleum

11/4/2020
Early 2020 drop in crude oil prices led to write-downs of U.S. oil producers’ assets

Early 2020 drop in crude oil prices led to write-downs of U.S. oil producers’ assets

COVID-19 pandemiccrude oilliquid fuelsoil/petroleumpricesproduction/supply

7/27/2020
Lower crude oil prices will mean less exploration and development

Lower crude oil prices will mean less exploration and development

crude oilliquid fuelsoil/petroleumprices

6/4/2020
Canada is a key energy trade partner to the United States

Canada is a key energy trade partner to the United States

Canadacrude oilelectricityexports/importsinternationalliquid fuelsnatural gasoil/petroleum

5/28/2019
Oil company additions to proved reserves in 2017 were the highest since 2013

Oil company additions to proved reserves in 2017 were the highest since 2013

crude oilliquid fuelsnatural gasoil/petroleumreserves

6/22/2018

Renewable energy subsidies have declined as tax credits, other policies diminish

RFS (renewable fuel standards)biofuelsdailyelectricityrenewablessolarwind

4/26/2018

Federal financial interventions and subsidies in U.S. energy markets declined since 2013

dailyrevenuetaxes

4/25/2018

S&P 500 implied volatility briefly surpassed that of crude oil in February

crude oildailyliquid fuelsprices

3/12/2018

State taxes on gasoline in 2017 up 4.5% from 2016

Californiadailydieselgasolineliquid fuelsoil/petroleumpricesstatestaxes

10/3/2017

U.S. oil producers paying off debt, but higher costs restrict cash flow growth

United Statesoil/petroleumproduction/supplyweekly

7/12/2017

Energy commodity prices declined more than other commodities in the first half of 2017

crude oildailyliquid fuelsoil/petroleumprices

7/7/2017

Reporting oil companies’ proved reserves in 2016 decline for second consecutive year

dailyinternationalliquid fuelsoil sandsoil/petroleumreserves

6/12/2017

Oil companies’ proved reserves decline for second consecutive year as finding costs remain near historical average

internationaloil sandsoil/petroleumreservesweekly

6/1/2017

U.S. oil producers issued record equity in 2016 and increased investment in the final quarter

United Statescrude oildrillingoil/petroleumpricesproduction/supplyweekly

3/29/2017

EIA’s short-term global oil demand outlook considers the role of economic activity

dailyforecasts/projectionsinternationalliquid fuelsoil/petroleum

2/15/2017

U.S. energy trade with Mexico: U.S. export value more than twice import value in 2016

Mexicocrude oildailyexports/importsliquid fuelsnatural gasoil/petroleumpetroleum products

2/9/2017

With low oil prices in 2016, federal revenues from energy on federal lands again declined

dailyliquid fuelsoil/petroleumproduction/supply

1/24/2017

Energy commodity prices rose more than other commodity sectors in 2016

dailydieselgasolineliquid fuelsnatural gasoil/petroleumprices

1/3/2017

Quarterly upstream earnings positive for the first time since 2014

futuresoil/petroleumpricesproduction/supplyweekly

12/14/2016

Stable oil prices, improving credit conditions contributing to rise in merger and acquisition activity

STEO (Short-Term Energy Outlook)Texascrude oiloil/petroleumpricesproduction/supplyrig countweekly

11/2/2016

Short positions in U.S. crude oil futures held by producers, merchants at nine-year high

STEO (Short-Term Energy Outlook)crude oildailyproduction/supply

10/24/2016

Low oil prices have affected Russian petroleum companies and government revenues

Russiadailyinternationalliquid fuelsnatural gasoil/petroleum

10/20/2016

Narrowing crude oil price differences contribute to global convergence of refining profits

crack spreaddailyinternationalliquid fuelsoil/petroleumrefining

9/8/2016

OPEC members' net oil export revenue in 2015 drops to lowest level since 2004

OPECdailyexports/importsinternationalliquid fuelsoil/petroleum

8/26/2016

Changing crude oil price differentials contribute to global convergence of refining profits

crack spreadinternationaloil/petroleumrefiningweekly

8/24/2016

Declining economic activity and oil revenues in Russia are adversely affecting its regional neighbors

EuropeRussiacrude oiloil/petroleumweekly

8/3/2016

New EIA website spotlights key drivers of petroleum product prices

STEO (Short-Term Energy Outlook)crack spreadcrude oildailyfuturesgasolineliquid fuelsoil/petroleumproduction/supplyrefining

8/1/2016

U.S. oil companies closer to balancing capital investment with operating cash flow

crude oildailydrillingliquid fuelsoil/petroleumproduction/supply

7/18/2016

Oil companies focus on production over exploration as low oil prices reduce value of new reserves

crude oilinternationaloil/petroleumpricesproduction/supplyreservesresourcesweekly

5/25/2016

China’s diesel exports put downward pressure on Asia-Pacific crack spreads

Chinadieselexports/importsinternationaloil/petroleumpricesrefiningweekly

5/18/2016

Declining energy prices lower the cost of living

crude oildailyliquid fuelsnatural gasoil/petroleumpricesresidential

5/3/2016

Crude oil prices rise and contango narrows, but high inventories should constrain further price increases

STEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oilfuturesinventories/stocksoil/petroleumpricesweekly

4/27/2016

2015 financials reveal significant differences across U.S. onshore-only producers

liquid fuelsoil/petroleumpricesproduction/supplyreservesweekly

4/20/2016

State taxes on gasoline and diesel average 27 cents per gallon

dailydieselgasolineliquid fuelsoil/petroleumpricesstatestaxestransportation

4/19/2016

EIA lowers its crude oil price forecast

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oiloil/petroleumpricesweekly

3/9/2016

Canada, Mexico, United States launch North American Cooperation on Energy Information site

CanadaMexicoUnited Statesdailyinternational

2/16/2016

U.S. mining and exploration investment declined 35% in 2015

coalcrude oildailyminingoil/petroleumprices

2/10/2016

Changing contract expiration dates will affect crude oil futures comparisons

BrentWTI (West Texas Intermediate)dailyfuturesliquid fuelsoil/petroleumprices

1/26/2016

Crude oil prices will remain relatively low through 2016 and 2017

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)oil/petroleumpricesweekly

1/13/2016

State severance tax revenues decline as fossil fuel prices drop

AlaskaOklahomaTexasWest VirginiaWyomingcoaldailynatural gasoil/petroleumstates

1/12/2016

Prices for oil and natural gas commodities fell during 2015

dailydieselgasolineliquid fuelsnatural gasoil/petroleumprices

1/4/2016

Past Issues & Trends

U.S. oil producers increased investment in fourth quarter of 2016 April 3, 2017

dailyliquid fuelsoil/petroleumproduction/supply

December Short-Term Energy Outlook forecasts non-OPEC production decline in 2016 December 9, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oilexports/importsoil/petroleumpricesweekly

Oil companies announce significant write-downs in third-quarter 2015 November 18, 2015

liquid fuelsoil/petroleumreservesweekly

October Short-Term Energy Outlook lowers crude price forecast for 2016 November 12, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oiloil/petroleumpricesweekly

Before recent transfer, Highway Trust Fund had reached its lowest level in years November 10, 2015

dailygenerationoil/petroleumtaxestransportation

Sustained low oil prices could reduce exploration and production investment September 23, 2015

United Statescrude oiloil/petroleumpricesproduction/supplyweekly

Debt service uses a rising share of U.S. onshore oil producers’ operating cash flow September 18, 2015

dailyliquid fuelsoil/petroleumpricesproduction/supply

EIA projects lower gasoline prices despite recent demand growth September 16, 2015

STEO (Short-Term Energy Outlook)crude oilexports/importsgasolineoil/petroleumpricesweeklywholesale prices

U.S. onshore producers face challenging times September 10, 2015

United Statescrude oiloil/petroleumpricesproduction/supplyweekly

August Short-Term Energy Outlook lowers crude price forecast for 2015 and 2016 August 12, 2015

BrentOPECWTI (West Texas Intermediate)crude oiloil/petroleumpricesproduction/supplyweekly

Beyond Shell-BG, oil company merger activity is down July 22, 2015

dailyliquid fuelsoil/petroleum

EIA celebrates 20 years on the Internet June 30, 2015

dailytotal energy

Refiner margins unable to fully offset low upstream earnings for integrated oil companies June 17, 2015

crack spreadcrude oildailydistillate fuelgasolineliquid fuelsoil/petroleumrefining

June Short-Term Energy Outlook reduces crude oil price forecast based on supply June 10, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oiloil/petroleumpricesweekly

EIA updates crude oil price forecast for 2015 and 2016 May 13, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)drillingexports/importsoil/petroleumproduction/supplyweekly

Energy resource permanent funds vary by purpose and state April 30, 2015

AlaskaLouisianaNorth DakotaWyomingcoalcrude oildailynatural gasstatestaxes

Assessing 2014 oil and gas company financials April 29, 2015

oil/petroleumpricesweekly

Year in Review: Crude Oil Prices 2014 April 28, 2015

BrentOPECcrude oilfuturesnon-OPECoil/petroleumpricesproduction/supply

Price declines can affect companies’ proved reserves April 15, 2015

oil/petroleumpricesreservesweekly

EIA's Annual Energy Outlook will be released later today April 14, 2015

dailyforecasts/projections

Retail gasoline prices for summer 2015 are projected to be more than $1/gallon lower than last summer April 8, 2015

STEO (Short-Term Energy Outlook)gasolineoil/petroleumpricesweekly

Financial hedging helps some producers mitigate effect of falling oil prices April 2, 2015

dailyliquid fuelsoil/petroleumprices

Upstream capital expenditure declined 12% year-over-year in fourth-quarter 2014 March 25, 2015

Brentcrude oildailyinternationalnatural gasoil/petroleumproduction/supply

EIA launches new data add-in tool for Microsoft Excel for Windows March 18, 2015

dailytotal energy

Federal Financial Interventions and Subsidies in Energy March 13, 2015

Congressional & other requestsbiofuelscoalelectricityforecasts/projectionsliquid fuelsmost popularnuclearoil/petroleumrenewablessolarwind

U.S. crude oil inventories increase as WTI contango deepens March 11, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)consumption/demandcrude oilexports/importsoil/petroleumpricesweekly

Potential market implications of outage at ExxonMobil's Torrance, California refinery February 25, 2015

Californiadieselgasolineinventories/stocksliquid fuelsmaintenanceoil/petroleumoutagespricesrefiningweekly

Appreciation of the U.S. dollar moderates recent decline in crude oil prices for some oil-producing nations February 19, 2015

BrentSaudi Arabiaoil/petroleumpricesweekly

EIA expects gasoline demand to increase by nearly 1% in 2015 February 11, 2015

STEO (Short-Term Energy Outlook)consumption/demandforecasts/projectionsgasolineoil/petroleumpricesweekly

Market balances are reflected in changing futures price spreads January 28, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)futuresinventories/stocksoil/petroleumpricesweekly

Falling gasoline prices: the influence of crude oil prices and other factors January 22, 2015

Brentcrude oilgasolineinventories/stocksliquid fuelsoil/petroleumspot pricesweekly

Market expectations of oil price uncertainty have increased in recent months January 14, 2015

BrentSTEO (Short-Term Energy Outlook)WTI (West Texas Intermediate)crude oildailyliquid fuelsoil/petroleumprices

Energy had larger price declines than most nonenergy commodities in 2014 January 5, 2015

BrentWTI (West Texas Intermediate)crude oildailyliquid fuelsoil/petroleumprices

OPEC net oil export revenues expected to fall in 2014 and 2015 December 17, 2014

OPECdailyinternationalliquid fuelsoil/petroleum

Third-quarter results for North America-focused crude oil producers November 26, 2014

WTI (West Texas Intermediate)oil/petroleumpricesshaleweekly

Role of benchmarks in the global crude oil market October 16, 2014

BrentWTI (West Texas Intermediate)crude oilfuturesoil/petroleumpricesweekly

As cash flow flattens, major energy companies increase debt, sell assets July 29, 2014

daily

Lower crude feedstock costs contribute to North American refinery profitability June 5, 2014

EuropeGulf Coastcrude oiloil/petroleumrefiningreservesweekly

Texas and Rockies natural gas mitigates disruption from Wyoming processing plant explosion May 1, 2014

CaliforniaWyomingdailynatural gasoil/petroleumpipelinespricesspot pricesstates

Global upstream oil and gas spending continues to favor exploration and development April 25, 2014

dailyinternationalliquid fuelsnatural gasoil/petroleumpricesproduction/supply

Brent crude oil trading range in 2013 was narrowest since 2006 March 4, 2014

Brentcrude oildailyliquid fuelsoil/petroleumprices