Who Will Lose if Natural Gas Prices Keep Falling?
|
|
- Janel Flynn
- 8 years ago
- Views:
Transcription
1 March March 2013 Who Will Lose if Natural Gas Prices Keep Falling? By Tony Danova A drop in prices would have uneven effects across the supply chain, with those farthest down the chain presenting the least risk to investment banks. Turning a high profit will become increasingly difficult for extractors and distributors The energy sector provides investment banks with a substantial amount of activity each year, with natural gas firms providing a particularly enticing prospect for merger and acquisition (M&A) activity, underwriting opportunities and other services that investment banks offer. Recently, though, US natural gas firms across in the supply chain have been grappling with rapidly falling natural gas prices, due to a heavy supply in combination with somewhat static demand. From 2010 to 2011, the wellhead price of natural gas in the United States fell from about $4.48 to $3.95, according to the US Energy Information Association (EIA). To boost prices, some natural gas firms have attempted to limit the supply by cutting back production volume. The plan has been somewhat successful; the EIA reports that the Henry Hub spot price in natural gas has grown from a low of $1.95 in April 2012 to about $3.33 in January Still, natural gas production volume is at an all-time high in the United States. According to a September 2012 report from the Natural Gas Supply Association, high natural gas production in the United States can be attributed to various factors. For example, the Marcellus Shale boom and other recent $ per thousand cubic feet World price of natural gas Year discoveries of untapped natural gas deposits have led natural gas extraction companies to ramp up production. Historically, the United States has produced roughly 30 trillion cubic feet (TCF) of natural gas each year. Many analysts have concluded that the Marcellus Shale field holds almost 50 TCF of extractable natural gas. On top of the vast amount of natural gas production, skyrocketing crude oil prices have also aided in keeping natural gas supplies high. Generally, drilling of crude oil produces an associated gas as a byproduct. Barclays research estimates that 75.0% of all natural gas production during 2012 was from gas pumped as a 18 SOURCE: info@ibisworld.com
2 March Baselinevs.scenario Baseline2012 Baseline2014 Scenario2014 Industry Overall Structure Growth Sensitvity Overall Structure Growth Sensitvity Overall Natural Gas Distribution Oil Drilling & Gas Extraction Coal & Natural Gas Power SOURCE: byproduct of oil drilling. According to an April 2012 article from Bloomberg Businessweek, crude oil regularly traded above $100 a barrel throughout the early stages of These sustained high oil prices facilitated an opportune time for oil drilling companies to ramp up crude oil production. Still, though many natural gas production firms have pulled back rigs in order to reduce output, the EIA reports that natural gas storage reached roughly 8.9 million cubic feet (MMcf) in November 2012 (latest data available), compared with roughly 8.2 MMcf a year prior. This 8.5% increase in storage space may ultimately further subdue natural gas price growth in the United States going forward. In contrast to the domestic landscape, the world price of natural gas has been steadily rising over the past five years. This driver, which is manipulated in the IBISWorld model, has been propped up by heavy natural gas price growth in Europe and Asia because it is a benchmark price from the weighted averages of Russian natural gas border price in Germany, Indonesian liquefied natural gas price in Japan and the natural gas spot price at Henry Hub in Louisiana. Nonetheless, the World Bank reports a steady decline in Russian natural gas border prices and static performance in Indonesian liquefied gas prices in Japan over the past six months. However, IBISWorld expects the world price of natural gas to increase substantially during 2013, by an estimated 15.7% to $10.00 per thousand cubic feet (tcf). Still, with US prices also continuing to fall, what would an actual decrease in the world price of natural gas to $8.00/tcf mean for the three key US industries throughout the supply chain of this commodity? Moreover, how would these effects flow through to investment banking activity within these key natural gas industries? Natural gas price model In this study, IBISWorld profiles the Oil Drilling and Gas Extraction, Natural Gas Distribution, and Coal and Natural Gas Power industries in the United States, and discusses the implications that falling natural gas prices may have on profitability, revenue growth, demand and other aspects within each industry. Using IBISWorld s Industry Risk Rating Model 1, IBISWorld has dropped the weighted average of the three natural gas price benchmarks (Germany, Japan and US) to $8.00 per tcf from the baseline of $10.04 during 2013, with the end goal to 1 A joint effort with RMA with roots in the work of Michael Porter, the model is based on data from the highly granular five-digit North American Industry Classification System (NAICS). The precise theoretical underpinning is a marriage of Porter s Five Forces and a traditional macroeconomic-style top-down approach.
3 March show the change in IBISWorld risk-rating scores for the three industries during 2013 and To calculate the overall risk score, IBISWorld assesses the risks pertaining to industry structure (structural risk), expected future performance (growth risk) and economic forces (sensitivity risk). Risk scores are based on a scale of 1 to 9, where 1 represents the lowest risk and 9 the highest. The three types of risk are scored separately, then weighted and combined to derive the overall risk score. In the figure above, the model shows that, over the next two years, two key upstream industries within the natural gas sector will experience significant growth in their associated risk scores, while a downstream industry will become less risky. These industries rely on natural gas in different ways, and a fall in the price of the commodity will have varying effects. Oil drilling and gas extraction Firms in the Oil Drilling and Gas Extraction industry operate and develop oil and gas field properties and engage in natural gas exploration. Other industry operations include mining, extraction of oil from oil shale and sands, and exploration and production of crude petroleum. Crude oil accounts for roughly 58.4% of all extraction revenue within the industry, with natural gas consuming the remaining 41.6%. Given its higher prices, crude oil has increasingly dominated the industry s landscape during the past five years. Compounding skyrocketing oil prices with the falling natural gas price, the share of revenue derived from natural gas extraction has fallen from about 51.0% during Higher crude oil prices and falling natural gas prices, within this IBISWorld scenario, would lure oil drilling and gas extraction firms away from natural gas fields, despite an abundant supply of the commodity. If firms increase crude oil output and demand for crude oil falters, this would create a marked decline in industry revenue. While this fall could be buoyed by natural gas, the recent decline in natural gas prices has limited the ability of the natural gas segment to make up for a fall in crude oil revenue. A further decline in natural gas prices would exacerbate this trend, increasing the industry s overall risk score by a significant mark of With one end of the industry lagging the other, larger corporations may shy away from any sort of merger and acquisition (M&A) activity, particularly concerning firms focused primarily on natural gas extraction. Additionally, opportunities for new natural gas extraction firms to enter the industry likely will diminish as the market becomes more saturated. These factors will lead to less potential investment banking opportunities due to lower demand for M&A advisory services and fewer new entrants raising capital. Natural gas distribution Firms in the Natural Gas Distribution industry operate gas distribution systems consisting primarily of gas mains and meters that transport natural gas to end users. Many are also gas marketers, which buy gas from the well and sell it to a distribution system, while others are gas brokers or agents, which arrange for gas to be sold via distribution systems that they operate. Because natural gas distributors are in the middle of the supply chain, they carry a strong interest in natural gas prices because these prices are the most significant and the most direct determinant of industry profitability and revenue growth. Therefore, the Natural Gas Distribution industry would be significantly affected by a sustained fall in the price of natural gas, as its overall risk score would to grow by a steep In general, continually falling prices in natural gas would put immense downward pressure
4 March About IBISWorld Inc. Recognized as the nation s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit or call Contact: Savannah Haspel VP, Public Relations IBISWorld Phone: savannahh@ibisworld.com on the industry s bottom line, potentially forcing firms to increase sale prices in order to pad margins. This trend could potentially weaken demand and subdue the industry s revenue growth potential. With lower profit and slow revenue growth, firms may be reluctant to enter the industry or expand, limiting investment banks opportunities for underwriting and other services. Coal and natural gas power The Coal and Natural Gas Power industry operates fossil fuel-powered electricity generating plants that are used to power turbines. These turbines generate electricity for households, the commercial sector and industrial firms. Currently, gas-fired electricity makes up about 33.6% of revenue for the industry and has grown significantly over the past five years in light of its availability and affordability. As electricity generated by natural gas becomes even more affordable due to falling natural gas prices, this segment will expand further. Like the Oil Drilling and Gas Extraction industry, consumer demand for gas-fired electricity would have the biggest implication on this industry s risk score, which would decrease substantially by 0.28 in 2013, according to the IBISWorld model. If natural gas prices continued to fall, the industry would benefit from growing consumer demand for gas-fired electricity, helping to push up revenue growth and pad industry profit margins. Additionally, lower natural gas prices have spurred investment into natural gas power plants, a trend that has also benefited investment banks, creating more activity for underwriting and helping new plants raise capital. Mixed results In the IBISWorld risk scenario model, the ability of each industry to remain less risky than anticipated hinges on each industry s capacity to increase consumer demand for its products if natural gas prices continue to fall. The supply of natural gas is there, but the most important aspect for firms is to survey the market and meet consumer needs for natural gas in industrial and commercial markets. Additionally, firms must consider the market for heating, electricity generation and other uses of natural gas in the residential market. The United States has been afforded a rich new supply of oil thanks to the discovery of previously untapped reserves and a high volume of natural gas byproduct from crude oil drilling. Nonetheless, natural gas firms up the supply chain may ultimately be bearish about the prospects of their sector should natural gas prices continue to plunge. For investment banks and thrifts, the natural gas sector proves to be a bit of a mixed bag. Based on the IBISWorld risk model, firms further up the supply chain -- those engaged in production and distribution -- have been struggling recently and will emanate greater associated risk as a result of the falling natural gas prices. On the other hand, firms supplying natural gas for consumer end-use have benefited from a glut in supply by being able to offer their customers a cheaper, more widely available product. Despite greater associated risk as a result of the falling gas prices, expanding consumer use has facilitated heavier investment into this sector. Though falling natural gas prices have made these industries inherently riskier, investment banks should look to those whose demand stems primarily from end users. While revenue growth may slow, and profitability may be squeezed initially, the potential for widening use of natural gas at the consumer level will attract new firms to enter, or others to expand. This will provide ample opportunities for M&A advisory, valuation, underwriting and other specialty services.
5 At IBISWorld we know that industry intelligence is more than assembling facts. It is combining data with analysis to answer the questions that successful businesses ask. Identify high growth, emerging and shrinking markets Arm yourself with the latest industry intelligence Assess competitive threats from existing and new entrants Benchmark your performance against the competition Make speedy market-ready, profit-maximizing decisions Who is IBISWorld? We are strategists, analysts, researchers and marketers. We provide answers to information-hungry, time-poor businesses. Our goal is to give you the real-world answers that matter to your business in our 700 US industry reports. When tough strategic, budget, sales and marketing decisions need to be made, our suite of Industry and Risk intelligence products give you deeply researched answers quickly. IBISWorld Membership IBISWorld offers tailored membership packages to meet your needs. Join and become an industry expert! Disclaimer This product has been supplied by IBISWorld Inc. ( IBISWorld ) solely for use by its authorized licensees strictly in accordance with their license agreements with IBISWorld. IBISWorld makes no representation to any other person with regard to the completeness or accuracy of the data or information contained herein, and it accepts no responsibility and disclaims all liability (save for liability which cannot be lawfully disclaimed) for loss or damage whatsoever suffered or incurred by any other person resulting from the use of, or reliance upon, the data or information contained herein. Copyright in this publication is owned by IBISWorld Inc. The publication is sold on the basis that the purchaser agrees not to copy the material contained within it for other than the purchasers own purposes. In the event that the purchaser uses or quotes from the material in this publication in papers, reports, or opinions prepared for any other person it is agreed that it will be sourced to: IBISWorld Inc. Copyright IBISWorld Inc.
Scenario Study: Natural Gas Prices Deflating
WWW.IBISWORLD.COM November 2012 1 November 2012 Scenario Study: Natural Gas Prices Deflating By Antonio Danova What if the price of natural gas bucked its trend of steady growth? And what industries would
More informationWhat s Hot in Oil, Gas and Energy Equipment Leasing
WWW.IBISWORLD.COM October 2013 1 Follow on head on Master page A October 2013 What s Hot in Oil, Gas and Energy Equipment Leasing By David Yang Effective portfolio risk management is vital to the long-term
More informationIndustry Information: A Powerful Tool for Equipment Leasing and Financing
WWW.IBISWORLD.COM Month 2012 1 Follow on head on Master page A October 2013 Industry Information: A Powerful Tool for Equipment Leasing and Financing By David Yang Industry research can be a valuable resource
More informationPrep Work: New Software Will Streamline Tax Services
WWW.IBISWORLD.COM Month 2012 1 Follow on head on Master page A August 2013 Prep Work: New Software Will Streamline Tax Services By Caitlin Newsom Tax software development will ultimately benefit both accountants
More informationTop Performing Service Industries
WWW.IBISWORLD.COM Month 2012 1 Follow on head on Master page A October 2013 Top Performing Service Industries By Nikoleta Panteva Service-based industries have been immune to the economy s recent economic
More informationSecurity Breach: 10 Industries Impacted
WWW.IBISWORLD.COM April 2013 1 April 2013 Security Breach: 10 Industries Impacted By David Yang Digital information and web-based business are driving demand for increased cyber security. IBISWorld identifies
More informationHome Improvement Franchises Predicted to Rise
WWW.IBISWORLD.COM October 2013 1 October 2013 Fastest Growing Franchises in Home Improvement By Lauren Setar As the economy improves and residential market recovers, franchises in the home improvement
More informationTop 5 Deal Opportunities in the Southeast
WWW.IBISWORLD.COM May 2013 1 May 2013 Top 5 Deal Opportunities in the Southeast By Natalie Everett The Southeast s aging population and interest in wellness will benefit several industries and provide
More information5 Hot Start-Up Industries
WWW.IBISWORLD.COM January 2014 1 Follow on head on Master page A April 2014 By Dmitry Diment Strong revenue growth, high technological change and limited barriers to entry will present prime opportunities
More informationHealthcare Reform Opens Up Middle-Market Opportunities
WWW.IBISWORLD.COM April 2013 1 April 2013 By IBISWorld Analysts Douglas Kelly & Anna Son A changing healthcare landscape and increasing demand are spurring potential deal opportunities in related industries.
More information8 Hot Industries for Start-Ups
WWW.IBISWORLD.COM February 2013 1 February 2013 By Kevin Boyland and Eben Jose Driven primarily by a shift toward providing services online, these eight industries present excellent opportunities for start-ups.
More informationToy and Hobby Stores Consolidate to Compete
WWW.IBISWORLD.COM November 2012 1 November 2012 Toy and Hobby Stores Consolidate to Compete By Justin Waterman As companies fight for business and to hold onto market share, industry concentration has
More informationTop 5 Deal Opportunities in the West
WWW.IBISWLD.COM April 2013 1 April 2013 Top 5 Deal Opportunities in the West By Austen Sherman An influx of mergers and acquisitions among firms in the West will provide opportunities for investment banks
More informationFive Innovative Industries that Boost Small Business
WWW.IBISWORLD.COM January 2014 1 Follow on head on Master page A Five Innovative Industries that Boost Small Business By IBISWorld Industry Analyst Lucas Isakowitz, exclusively for the ASBDC conference
More informationTop 5 Riskiest Industries in the Mid-Atlantic
WWW.IBISWORLD.COM August 2013 1 August 2013 Top 5 Riskiest Industries in the Mid-Atlantic By Brandon Ruiz The Mid-Atlantic population is forecast to grow, but that will not help all industries in the region;
More informationBaby Boomers: A Burgeoning Customer Market
WWW.IBISWORLD.COM April 2013 1 April 2013 Baby Boomers: A Burgeoning Customer Market By Lauren Setar and Anna Son Led by the baby boomers, aging Americans are creating myriad opportunities in industries
More informationHighly Concentrated: Companies That Dominate Their Industries
WWW.IBISWORLD.COM Special Report February 2012 1 Special Report February 2012 Highly Concentrated: Companies That By Andrea Alegria, Agata Kaczanowska and Lauren Setar Through brand loyalty and mergers
More informationTop 10 Fastest-Growing Industries
WWW.IBISWORLD.COM Special Report April 2012 1 Special Report April 2012 Top 10 Fastest- Growing Industries By Lauren Setar & Matthew MacFarland With environmentally friendly practices or technological
More informationOn October 21, 2008, the Federal Reserve
Anticipated Recession Effects Gas Prices Natural Gas Prices in a Recession This is a preprint of an article published in Natural Gas & Electricity 2008, Dec., Wiley Periodicals, Inc. http://www3.interscience.wiley.com/cgi-bin/jhome/105559587
More informationAdding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner
Adding fuel to the fire North America s hydrocarbon boom is changing everything Steven Meersman Mark Pellerin Roland Rechtsteiner What if the gasoline that you put in your car came from natural gas instead
More informationEffect of Increased Natural Gas Exports on Domestic Energy Markets
Effect of Increased Natural Gas Exports on Domestic Energy Markets as requested by the Office of Fossil Energy January 2012 This report was prepared by the U.S. Energy Information Administration (EIA),
More informationNatural Gas Markets in 2006
Order Code RL33714 Natural Gas Markets in 2006 Updated December 12, 2006 Robert Pirog Specialist in Energy Economics and Policy Resources, Science, and Industry Division Natural Gas Markets in 2006 Summary
More informationWWW.IBISWORLD.COM Special Report June 2012 1
WWW.IBISWORLD.COM Special Report June 2012 1 Special Report June 2012 By Nikoleta Panteva and Agata Kaczanowska Fluctuating incomes and changing values have altered what consumers consider luxury, pushing
More informationThree Hot Commodity Stocks For 2016
$49.00 $49.00 Three Hot Commodity Stocks For 2016 Energy Markets In Distress Ask anyone who watches the energy markets religiously, and they ll tell you the same thing... The price of oil and natural gas
More informationMain Street. Economic information. By Jason P. Brown, Economist, and Andres Kodaka, Research Associate
THE Main Street ECONOMIST: ECONOMIST Economic information Agricultural for the and Cornhusker Rural Analysis State S e Issue p t e m b2, e r 214 2 1 Feed de er ra al l RR e es se er rv ve e BBa an nk k
More informationGlobal Oil & Gas Suite
IHS ENERGY Global Oil & Gas Suite Comprehensive analysis and insight on upstream opportunities, risk, infrastructure dynamics, and downstream markets Global Oil & Gas Suite Make optimal decisions about
More informationICIS Power Index Q1 2015 Global gas oversupply pushes down prices
Highlights l UK wholesale electricity market prices hit their lowest levels since the IPI has been calculated, because of global gas oversupply. l UK markets are now much more influenced by global gas
More informationOil and Gas U.S. Industry Outlook
Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing
More informationDisplacement of Coal with Natural Gas to Generate Electricity
Displacement of Coal with Natural Gas to Generate Electricity The American Coalition for Clean Coal Electricity (ACCCE) supports a balanced energy strategy that will ensure affordable and reliable energy,
More informationThe Future of Energy in Louisiana! March 2014
The Future of Energy in Louisiana! March 2014 1! GNO, Inc. Overview! GNO, Inc. is the economic development organization serving the ten parishes of Southeast Louisiana.! Logo! Business Development! Business
More informationPreparing for Changes in Market Design
Preparing for Changes in Market Design EMART Conference Didier Lebout, Strategy and Development Director Gazprom Marketing and Trading France Amsterdam, 21 November 2012 In this presentation GM&T Ltd:
More informationGLOBAL RENEWABLE ENERGY MARKET OUTLOOK 2013
GLOBAL RENEWABLE ENERGY MARKET OUTLOOK 213 FACT PACK GUY TURNER HEAD OF ECONOMICS AND COMMODITIES APRIL 26, 213 GLOBAL RENEWABLE ENERGY MARKET OUTLOOK, 26 APRIL 213 1 INTRODUCTION This year s Global Renewable
More informationFinancial News for Major Energy Companies Second Quarter 2005
Financial News for Major Energy Companies Second Quarter 2005 The "Financial News for Major Energy Companies" is issued quarterly to report recent trends in the financial performance of the major energy
More information23822 - Plumbing, Heating, and Air-Conditioning Contractors: NAICS 2002 23511b - Plumbing: NAICS 1997
IBISWorld Executive Summary Industry Report 23822 - Plumbing, Heating, and Air-Conditioning Contractors: NAICS 2002 : NAICS 1997 DISCLAIMER This product has been supplied by IBISWorld Inc. ('IBISWorld')
More informationIs Germany in the slow lane for low carbon heat?
Is Germany in the slow lane for low carbon heat? Our latest research challenges the conventional wisdom that the best growth opportunities for low carbon heat in Europe are in Germany Delta-ee Whitepaper
More informationGlobal Oil and Gas Capital Expenditure Outlook 2010: National Oil Companies (NOCs) to Drive Investment
Global Oil and Gas Capital Expenditure Outlook 21: GlobalData s new report Global Oil and Gas Capital Expenditure Outlook 21: National Oil Companies (NOCs) to Drive Investment provides in-depth analysis
More informationFSC S LAW & ECONOMICS INSIGHTS
FSC S LAW & ECONOMICS INSIGHTS Issue 04-4 Fisher, Sheehan & Colton, Public Finance and General Economics July/August 2004 IN THIS ISSUE High Winter Natural Gas Heating Costs for Poor NOTE TO READERS ON-LINE
More informationTapping the benefits of business analytics and optimization
IBM Sales and Distribution Chemicals and Petroleum White Paper Tapping the benefits of business analytics and optimization A rich source of intelligence for the chemicals and petroleum industries 2 Tapping
More informationAn Analysis of Spot and Futures Prices for Natural Gas: The Roles of Economic Fundamentals, Market Structure, Speculation, and Manipulation
An Analysis of Spot and Futures Prices for Natural Gas: The Roles of Economic Fundamentals, Market Structure, Speculation, and Manipulation Robert J. Shapiro and Nam D. Pham August 2006 S O N E C O N An
More informationNatural Gas: Winter 2012-13 Abundance! and Some Confusion
Natural Gas: Winter 2012-13 Abundance! and Some Confusion NASEO Winter Fuels Outlook Washington, D.C. October 10, 2012 Bruce B. Henning Vice President, Energy Regulatory and Market Analysis BHenning@icfi.com
More informationOil Market Outlook. March 2016. Compiled by Dr Jeremy Wakeford
Oil Market Outlook March 2016 Compiled by Dr Jeremy Wakeford Highlights Oil prices have remained very weak in recent months, with the Brent benchmark averaging $31/bbl in January and $32/bbl in February
More informationUnconventional oil and gas: outlook, risks, and potential
20140519_SBC_International Energy Forum - Paper_v05 Unconventional oil and gas: outlook, risks, and potential May 2014 Moscow Table of Contents KEY INSIGHTS... 2 1. UNCONVENTIONAL RESOURCES ARE SIZEABLE
More informationCheap Oil: The Slump That Could
THOMAS WHITE INTERNATIONAL Capturing Value Worldwide GLOBAL SECTOR TREND JANUARY 2015 Cheap Oil: The Slump That Could Energize The World Economy KEY TAKEAWAYS The steep fall in the Brent crude oil benchmark
More informationFalling Oil Prices and US Economic Activity: Implications for the Future
Date Issue Brief # I S S U E B R I E F Falling Oil Prices and US Economic Activity: Implications for the Future Stephen P.A. Brown December 2014 Issue Brief 14-06 Resources for the Future Resources for
More informationLNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39
LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in
More informationIntroduction to Oil & Gas Industry, Accounting & Financial Statement Analysis. Copyright by Wall Street Prep, Inc. All rights reserved 1
Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis Copyright by Wall Street Prep, Inc. All rights reserved 1 A number of distinct yet interconnected sectors There are a number
More informationESF RESEARCH. Natural Gas and Renewables are Complements, Not Competitors. North America Fossil Fuels Natural Gas. June 25, 2013 Industry Brief
ENERGY SOLUTIONS FORUM INC. ESF RESEARCH North America Fossil Fuels Natural Gas June 25, 2013 Industry Brief Natural Gas and Renewables are Complements, Not Competitors Angelique Mercurio Founding Partner
More informationHow Do Energy Suppliers Make Money? Copyright 2015. Solomon Energy. All Rights Reserved.
Bills for electricity and natural gas can be a very high proportion of a company and household budget. Accordingly, the way in which commodity prices are set is of material importance to most consumers.
More informationCountdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever
Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever Alan Lammey, Sr. Energy Markets Analyst Who Is PointLogic Energy? PointLogic Energy provides
More informationIntegrated Oil Companies
Integrated Oil Companies Loretta Bu Zhou Fang Suvayan Roy Patrick He Artur Shikhaleev Yang Zeng 1 Key Questions 2 Upstream, Midstream, Downstream, Equipment and Services Companies THE OIL SUPPLY CHAIN
More informationFirst to US Market with trucked compressed natural gas delivered to companies beyond the pipeline. Bennington presentation by NG Advantage LLC
First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline 1 Natural gas is methane same stuff that comes from cow manure CNG is compressed natural gas LNG is liquefied
More informationNATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS
I. Summary NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS This brief white paper on natural gas prices is intended to discuss the continued and sustained level of natural gas prices at overall higher levels.
More informationOUR CONVERSATION TODAY
OUR CONVERSATION TODAY Our goal is to raise the level of awareness around the natural gas supply chain among key stakeholders in order to facilitate positive working relationships and more informed decision
More informationAnd Then There Was Abundance: Examining Natural Gas in 2012. Bruce McDowell Director, Policy Analysis American Gas Association bmcdowell@aga.
And Then There Was Abundance: Examining Natural Gas in 2012 Bruce McDowell Director, Policy Analysis American Gas Association bmcdowell@aga.org NOTICE: In issuing and making this presentation and publication
More informationNorth American Energy Independence A bump in the road
Wealth Management Research October 2015 A bump in the road Nicole Decker Equity Sector Strategist, Energy This report has been prepared by UBS Financial Services, Inc. Please see important disclaimers
More informationUnderstanding. Natural Gas Markets
Understanding Natural Gas Markets Table of Contents Overview 1 The North American Natural Gas Marketplace 3 Understanding Natural Gas Markets Natural Gas Demand 9 Natural Gas Supply 12 Summary 25 Glossary
More informationGosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports
GOSREPORTS.COM Global Metallurgical Analyzers Market Research Report 2016 Gosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports "Market Research " "Gosreports"
More informationMedium-Term Global Oil Outlook
Medium-Term Global Oil Outlook Fifth IEA OPEC Symposium on Energy Outlooks Session Two: Industry Views Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking
More informationOil and Gas Steve Oliver
English for Global Industries Oil and Gas Steve Oliver Contents Sections 1 Oil and Gas 2 Working on a Rig 3 Drilling Operations 4 Geological and Geophysical Operations 5 Producing and Delivering Units
More informationGosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports
GOSREPORTS.COM Global Circular Chart Recorders Market Research Report 2016 Gosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports "Market Research " "Gosreports"
More informationOver a barrel: Causes and consequences of the fall in oil prices
November 14, 2014 Over a barrel: Causes and consequences of the fall in oil prices Executive Summary The $30 fall in oil prices since July reflects greater U.S. supply as well as worries about a significant
More informationSECTION 1. PREAMBLE 3 SECTION 2. EXECUTIVE SUMMARY 4 ABOUT US 6
CONTENTS SECTION 1. PREAMBLE 3 SECTION 2. EXECUTIVE SUMMARY 4 ABOUT US 6 Disclaimer notice on page 8 applies throughout. Page 2 SECTION 1. PREAMBLE The New Energy Outlook (NEO) is Bloomberg New Energy
More informationGosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports
GOSREPORTS.COM Global FT-NIR Analyzers Market Research Report 2016 Gosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports "Market Research " "Gosreports" 2016
More informationThe challenges for shale gas production in Mexico
Regional Workshop on the Changing Global Market and Unconventional Gas 6-8 May 2013, Jakarta, Indonesia The challenges for shale gas production in Mexico Roberto Lozano Researcher, Asia Pacific Energy
More informationFinancial News for Major Energy Companies Third Quarter 2005
Financial News for Major Energy Companies Third Quarter 2005 The "Financial News for Major Energy Companies" is issued quarterly to report recent trends in the financial performance of the major energy
More informationTransparency Market Research
Transparency Market Research Subsea Manifolds Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014-2020 Published Date 27-Feb-2015 81 Page Report Buy Now Request Sample Press
More informationTexas: An Energy and Economic Analysis
Texas: An Energy and Economic Analysis Posted on 9/30/2013 Texas leads the nation in oil and natural gas reserves and production. In just over 2 years, Texas has doubled its oil production with large quantities
More informationUnconventional Oil and Gas Production Drives Trends in Water Management and Treatment
Unconventional Oil and Gas Production Drives Trends in Water Management and Treatment Jelena Stanic, Global Water Intelligence A research report, Water for the Onshore Oil and Gas, by Global Water Intelligence
More informationCURRENT ANALYSIS May 2014
CURRENT ANALYSIS May 14 A Look at the Recovery of the Canadian Auto Sector since the 08-09 Recession Chart 1: Motor vehicle production and Canada & US auto sales millions of units 3. Canadian car & truck
More informationECONOMIC OUTLOOK. Quantifying the Shale Gas Revolution s Impact on U.S. Industrial Energy Consumption MAY 2014
MAY ECONOMIC OUTLOOK Quantifying the Shale Gas Revolution s Impact on U.S. Industrial Energy Consumption THE CARLYLE GROUP 1001 PENNSYLVANIA AVENUE, NW WASHINGTON, DC 20004-2505 202-729-5626 WWW.CARLYLE.COM
More informationRush hour in Kolkata (formerly Calcutta), India. Between 1990 and 2000, the number of motor vehicles per capita more than doubled in four
Rush hour in Kolkata (formerly Calcutta), India. Between 1990 and 2000, the number of motor vehicles per capita more than doubled in four Asia-Pacific nations: South Korea, the Philippines, India, and
More informationU.S. Crude Oil and Natural Gas Production in Federal and Non-Federal Areas
U.S. Crude Oil and Natural Gas Production in Federal and Non-Federal Areas Marc Humphries Specialist in Energy Policy April 10, 2014 Congressional Research Service 7-5700 www.crs.gov R42432 Summary In
More informationHow To Predict The Long Term Demand And Supply Of Natural Gas In Europe
17 th INTERNATIONAL CONFERENCE & EXHIBITION ON 17 th INTERNATIONAL CONFERENCE & EXHIBITION LIQUEFIED NATURAL GAS (LNG 17) ON LIQUEFIED NATURAL GAS (LNG 17) Competition pipeline gas vs LNG in Europe
More informationCabot Oil & Gas Corporation
Information you need to know regarding Cabot Oil & Gas Corporation s natural gas production activities and hydraulic fracturing About Cabot Cabot Oil & Gas Corporation (Cabot) is a leading independent
More informationSelf-Service Big Data Analytics for Line of Business
I D C A N A L Y S T C O N N E C T I O N Dan Vesset Program Vice President, Business Analytics and Big Data Self-Service Big Data Analytics for Line of Business March 2015 Big data, in all its forms, is
More informationA report to the International Association of Oil and Gas Producers (OGP) MACROECONOMIC EFFECTS OF EUROPEAN SHALE GAS PRODUCTION.
MACROECONOMIC EFFECTS OF EUROPEAN SHALE GAS PRODUCTION A report to the International Association of Oil and Gas Producers (OGP) MACROECONOMIC EFFECTS OF EUROPEAN SHALE GAS PRODUCTION Contact details Name
More informationIMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE
IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE Prepared for: Modern Green Development Co., Ltd. and Canadian Community Service Association June 21, 2013 Mining, Finance and Real Estate Forum Vancouver,
More informationCanacol Energy Ltd. Reports Record Adjusted Funds from Operations of US $37 Million in Fiscal Q1 2015
Canacol Energy Ltd. Reports Record Adjusted Funds from Operations of US $37 Million in Fiscal Q1 2015 CALGARY, ALBERTA (November 12, 2014) Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE;
More informationGosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports
GOSREPORTS.COM Global Gate turn-off Thyristor Switches (GTOs) Market Research Report 2016 Gosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports "Market Research
More informationTexas Natural Gas: Fuel for Growth. Michael J. Economides, PhD Professor, University of Houston and Philip E. Lewis, P.E.
Texas Natural Gas: Fuel for Growth Michael J. Economides, PhD Professor, University of Houston and Philip E. Lewis, P.E. Consultant March 26, 2012 Texas Natural Gas: Fuel for Growth March 2012 Table of
More informationCBRE CLARION SECURITIES MLPs OIL & GAS DRILLING TECHNOLOGY LEADS TO EFFICIENCY GAINS
CBRE CLARION SECURITIES MLPs OIL & GAS DRILLING TECHNOLOGY LEADS TO EFFICIENCY GAINS MARCH 2015 Jeremy Anagnos, CFA Senior Global Portfolio Manager Hinds Howard Associate Portfolio Manager EXECUTIVE SUMMARY
More informationNatural Gas Monthly. October 2015. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585
Natural Gas Monthly October 2015 Office of Oil, Gas, and Coal Supply Statistics www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration
More informationNatural Gas Markets Update for the Ethanol Industry. Identifying Market Fundamentals and Managing Price Risk
Natural Gas Markets Update for the Ethanol Industry Identifying Market Fundamentals and Managing Price Risk Presentation Outline Natural Gas Market Update Demand Issues Supply Issues Implications for Ethanol
More informationOil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist
Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking statements.
More informationChallenges and Opportunities for Small Businesses Engaged in Energy Development and Energy Intensive Manufacturing
Statement of Toby Mack, EEIA President, Before the U.S Senate Committee on Small Business and Entrepreneurship July 14, 2015 Challenges and Opportunities for Small Businesses Engaged in Energy Development
More informationThe Petroleum Economics Monthly
The Petroleum Economics Monthly Philip K. Verleger, Jr. Volume XXIX, No. 6 June 2012 Structural Changes Make Crude Inventories Irrelevant (Publication Date: 7/30/2012) 2012, PKVerleger LLC. All rights
More information2014 BP Madrid forum on energy & sustainability BP 2014
14 BP Madrid forum on energy & sustainability BP 14 Contents Global energy trends Liquid fuels Refining implications European focus Energy Outlook 35 BP 14 Primary energy consumption growth slows and the
More informationPerformance Profiles of Major Energy Producers 2009
Performance Profiles of Major Energy Producers 2009 February 2011 DOE/EIA-0206(09) Distribution Category UC-950 Performance Profiles of Major Energy Producers 2009 February 2011 U.S. Energy Information
More informationEnergy Value Chains. What is a Value Chain?
Energy s Overview of Fundamentals Center for Energy Economics, UT-Austin. No reproduction, distribution or attribution without permission. 1 What is a? The process of linking specific functions from input
More informationMaximizing Your Equity Allocation
Webcast summary Maximizing Your Equity Allocation 130/30 The story continues May 2010 Please visit jpmorgan.com/institutional for access to all of our Insights publications. Extension strategies: Variations
More information2014 s Top 10 Oil Producers in the Gulf of Mexico
2014 s Top 10 Oil Producers in the Gulf of Mexico The last few years have seen major oil and gas companies pushing further and further out into the American Gulf of Mexico, but which companies are having
More informationWORLD ENERGY INVESTMENT OUTLOOK 2014 FACTSHEET OVERVIEW
OVERVIEW More than $1.6 trillion was invested in 2013 in energy supply, a figure that has more than doubled in real terms since 2000, and a further $130 billion to improve energy efficiency. Renewables
More informationImpact of Big Data Analysis on Strategic Business Planning for Liquid Natural Gas (LNG) and Methanol Pricing in Commodity Markets
Impact of Big Data Analysis on Strategic Business Planning for Liquid Natural Gas (LNG) and Methanol Pricing in Commodity Markets By Merv Perry MBA MSc CISSP CISM Big data is fundamentally changing the
More informationGosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports
GOSREPORTS.COM Global Continuous Gas Analyzers Market Research Report 2016 Gosreports is A Global Research Hub and the Largest Search Engine of All Market Research Reports "Market Research " "Gosreports"
More informationInvestments in Private Energy Partnerships
Investments in Private Partnerships August 2010 Private energy partnership investments offer a meaningful addition to a diversified private equity or real asset portfolio. Over the past 20 years, private
More informationGLOBAL DYNAMICS OF OIL PRICE RUCHAN KAYA SENIOR RESARCH FELLOW, ENERGY AND INTERNATIONAL RELATIONS EXPERT, HASEN
MESUT RUCHAN HAKKI KAYA CASIN 146 GLOBAL DYNAMICS OF OIL PRICE FLUCTUATIONS RUCHAN KAYA SENIOR RESARCH FELLOW, ENERGY AND INTERNATIONAL RELATIONS EXPERT, HASEN The crude oil saw the lowest price levels
More informationUK commercial property provides investors with strongest returns in 2014 Global Equity levels at record high
NOT FOR BROADCAST OR PUBLICATION BEFORE 00.01 HRS THURSDAY 27 th NOVEMBER 2014 Lloyds Bank Private Banking Assetwatch report tracks the value of nine asset groups. The asset classes are UK Shares, Global
More informationLifting the Crude Oil Export Ban
September 2015 Lifting the Crude Oil Export Ban Explainer I: Crude Oil Export Ban Overview The Bipartisan Policy Center (BPC) prepared this overview as part of a series to promote greater understanding
More informationande ande lumut oil project
ande ande lumut oil project Unlocking hidden value At the start of 2011, AWE s presence in Asia comprised a handful of Indonesian exploration permits. But as the year drew to a close, an opportunity emerged
More information