News and Commentary From OilSlick.com


Gas Glut?
Based on the drop in natural gas prices you would think there was a glut of natural gas. That is definitely not the case and somebody is going to get burned if we have another cold winter. Continue reading
OPEC Reacts to Oil Glut
The temporary excess of oil has OPEC members discussing production cuts. Saudi Arabia is already scaling back. Continue reading
BP Forges Ahead
The Macondo well had pressures that reached 13,000 PSI but that is just the starting point for BP's new effort. Continue reading
Oil Rigs at Record High
Active oil rigs rose to 1,601 last week and the most since Baker Hughes began counting them separately in 1986. Continue reading
Railroad Congestion Hurting Everyone
Peabody Energy guided lower for coal shipments in Q4 because of railroad congestion caused by oil shipments. Now farmers are complaining about the same problem. Continue reading
Exxon Leaves Russia
The U.S. government gave Exxon more time to shutdown work on the Arctic well to comply with Russian sanctions. Continue reading
Stay Out of Russia
Exxon and BP and a few others got the bad news last week. Stay away from Russia. Continue reading
Libya Is Back
Libyan crude production rose to 850,000 bpd last week as the oil fields and export terminals are restarted. Continue reading
Bakken Export Capacity Increases
Oil produced from the Bakken is currently restricted by takeaway capacity. If you don't drill near a pipeline or a rail head you are out of luck. Continue reading
Active Oil Rigs at 27 Year High
Baker Hughes said active oil rigs in North America rose to the highest level since 1987. Continue reading
IEA Cuts Demand Forecast
The IEA said the drop in demand growth was "nothing short of remarkable" in their recent forecast. That can't be good as an economic indicator but it does suggest much lower gasoline prices in the future. Continue reading
Dodged a Bullet
Halliburton dodged a very expensive bullet by agreeing to settle before the court decision. Continue reading
Stop the Oil Train Madness
Officials from North Dakota and other Midwestern states are urging U.S. regulators to halt oil shipments by rail. Continue reading
Shale Oil Sinking Saudi Arabia
The amount and price for oil imported from Saudi Arabia has fallen to multi decade lows. Continue reading
Worst Possible Outcome
In the disaster that will not die the judge presiding over the case gave BP the worst possible decision. Continue reading
Shell's $6 Billion Mistake
Shell has submitted a new plan to the federal government for drilling in the Alaskan Arctic. Continue reading
Got Sand?
20 years ago a pile of sand would have been nearly worthless. If you owned a few million tons of sand today you would be set for life. Continue reading
Morgan Stanley to Export CNG
Morgan Stanley announced it was planning a Compressed Natural Gas (CNG) export plant in Texas. Continue reading
Gas Prices Promoting Gas Drilling
Drilling rigs targeting natural gas rose by 8 last week to the highest level since March. Continue reading
IRAN Talks Tough
Iran said new U.S. sanctions will not impact the current round of nuclear talks. Continue reading