Opinion

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EQT’s acquisition of Rice Energy creates the leading US and Appalachian natural gas producer

On June 19, EQT Corporation (NYSE:EQT) entered into an agreement to acquire Rice Energy (NYSE:RICE) for 8.2 billion USD. In summary, EQT financing includes 5.4 billion USD in equity, 1.3 billion USD in cash and 1.5 billion USD assuming or refinancing of Rice net debt and preferred equity. According to Rystad Energy data, the deal […]

Nipco the latest Nigerian home player to take a shot at the majors

For a while it was all Aiteo, Aiteo, Seplat, Seplat when it came to looking for home-grown Nigerian oil players with big ambitions. But there’s a new contender! Nigerian fuel retailer Nipco has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take bump up its stake in Mobil Oil […]

Oil price, Echo Energy, Cairn/FAR, Sundry-Ophir-Faroe-Various broadcasts- And finally…

Momentum seems to be the watchword in what is a particularly lethargic market at the moment, general blaming of Opec and Non-Opec production from Nigeria, Libya and the US is deemed to cover the situation. Whilst on those organisations it seems that Opec compliance in May was 108% and Non-Opec 100% giving a record level […]

Rystad Energy Annual Review of World Oil Recoverable Resources: Saudi Arabia adds oil resources ahead of IPO

In its annual account of global oil resources, Rystad Energy finds that Saudi Arabia has added enough recoverable oil resources to regain its top position ahead of the United States and Russia. The addition of 73 billion barrels of recoverable oil since the publication of Rystad Energy’s 2016 annual review comes as a result of […]

Energy Nonsense From the Wall Street Journal

The lead editorial in Friday’s Wall Street Journal was pure energy nonsense. “Lessons of the Energy Export Boom” proclaimed that the United States is becoming the oil and gas superpower of the world. This despite the uncomfortable fact that it is also the world’s biggest importer of crude oil. TheJournal uses statistical sleight-of-hand to argue that the U.S. only imports 25% […]

The Good, the Bad and the Ugly!

During my 20+ years at Beyond Prudence there were several people who helped me think about my career, what I wanted to do, what I wanted to achieve, how to do it. For example, I recall that Peter O’Brien, David Jenkins, Peter Hill, Chris Wright, John Browne, Rodney Chase, David Pritchard were all very helpful […]

Energy, Made In America, Is The Key To Our Future

As the White House moves forward with workforce development week it’s important to remember what a gift the U.S. withdrawal from the Paris Climate Accords was. The rules were heavily slanted in favor of our economic competitors. While other nations prospered we would have struggled with handcuffed American industry, American manufacturing, and American energy production […]

The next “Shale Gale”?

A few weeks ago I used my blog/Newsletter to quiz readers on what they regarded as the world’s great source rocks. And, by inference, where might the next “Shale Gale” be blowing, mimicking what has happened in the USA? I’m glad to say I got an unusually large number of response which I’d summarise like […]

Oil price, Faroe, Wentworth, Sundry-Petrofac-Echo-SOCO-Touchstone-Chariot-Sirius- And finally…

A quiet day in the markets according to my man at the bourse, oil gained modestly as reports of the Saudi export cutbacks to the USA and Far Eastern clients via price rises and restrictions fed through to markets. As we enter the peak of summer in the Gulf, with its highest domestic use of […]

In Search of New Ideas to Revive Indonesias Oil Sector

I was honoured to be asked to write the following article for the Jakarta Post’s special edition that was published for the Indonesian Petroleum Association (IPA) 2017 Conference and Exhibition. This article covers four main areas for oil and natural gas prospecting in Indonesia as follows: Prospective, quality and depth of geological data, regulations and incentives, and what […]