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Appalachian Capex Slows

August 7, 2019 | Matt Hagerty

With earnings season once again upon us, the market is getting greater clarity on 2H’19 activity levels and production. Back in February, we touched on how public company guidance in Appalachia for 2019 compared to our forecasts which called...
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Propane Prices to See 4th of July Fireworks?

July 3, 2019 | Matt Hagerty

Summer always seems to arrive at the perfect time. The 2019 summer is no different, especially if you are looking for some much-needed support for propane prices. Propane pricing has weakened significantly over the past year, but today we’ll...
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Lack of Heavy Crude Weighing on US Refiners

May 28, 2019 | Matt Hagerty

Ahead of IMO 2020, which requires ships globally to use fuels with a sulfur content below 0.5% from 3.5% currently, many thought an opportunity was emerging for US refiners. Complex US refineries could capitalize on an expectation of widening...
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Capital Spending in 2019 – Altering Basin Trajectories?

March 28, 2019 | Matt Hagerty

As we talked about last March, initial capital expenditure (capex) budgets announced by public E&Ps for the upcoming year can provide a good benchmark for how they are currently thinking about their assets. When compiled together, the budgets offer...
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SB-181 Driving Regulatory Uncertainty for DJ Basin

March 14, 2019 | Matt Hagerty

As Proposition 112 gained steam in Colorado last fall ahead of the November election, BTU Analytics highlighted the changing political landscape in the state. Voters soundly rejected the ballot item. However despite 55% of voters deciding against the measure,...
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DJ Basin Challenges Impacting Drilling Decisions

February 8, 2019 | Matt Hagerty

The DJ Basin continues to face both regulatory and midstream challenges. In November, Colorado voters rejected a ballot initiative to increase well setbacks. Now, a lawsuit arguing Colorado’s forced pooling statute is unconstitutional further mires the outlook for development in...
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Producers Oil Hedging for 2019 Lacking?

January 15, 2019 | Matt Hagerty

Over the last several months, oil price volatility increased, oil prices collapsed, and now prices are back on the rise. One way that E&Ps can combat downside price risk is to enter into hedging contracts on future production to lock...
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