Periodicals
The Rare Petro Periodical series is an ongoing deep dive into the macro-level events that have, currently are, and will continue to shape our industry, in a condensed research paper format.
Thirsty Thursday: An Inventory Report (7/22)
Last week's report Welcome back to the eighth edition of Thirsty Thursday, an inventory report from RARE PETRO! This one is coming out a little early, so snag a bloody mary, or perhaps a bottomless mimosa. We got a little bit of data to get through, so kick back and...
Thirsty Thursday: An Inventory Report (7/15)
Welcome back to the seventh edition of Thirsty Thursday! We don't care if you prefer the EIA or API data, because both...
Thirsty Thursday: An Inventory Report (7/8)
Welcome back to the sixth edition of Thirsty Thursday! Hopefully everyone had (or is still having) a great holiday...
Thirsty Thursday: An Inventory Report (7/1)
Welcome back to the fifth edition of Thirsty Thursday! It is finally July, and our company would like to say happy...
Thirsty Thursday: An Inventory Report (6/24)
Welcome back to the fourth edition of Thirsty Thursday! This one is coming out early in the morning because the RARE PETRO boys are taking a field day on the creek. You know what they say: "You can't drink all day if you don't start in the morning." That means you...
Historic Droughts and Electricity Security
Record-toppling, early-season heat waves well into the triple digits have spread across the western portion of the United States straining electricity grids as a severe drought constricts hydroelectric power generation. As the summer months continue, electricity security is beginning to bear its ugly face yet again as states like California and Texas brace for a difficult season.
OAS Market Report Card
How does Oasis Petroleum's balance sheet stand up to its competitors, along with its past couple quarters of performance? Find out through this short video! https://youtu.be/mHoFnj2lhE8...
Thirsty Thursday: An Inventory Report (6/17)
Welcome back to the third edition of Thirsty Thursday! The best way to get through this heat wave is to grab an ice cold brew and read through some inventory reports. Kick back, relax, and let's dive into the data! Starting with the API report, released June 15, we...
Thirsty Thursday: An Inventory Report (6/10)
Welcome back to the second episode of Thirsty Thursday! The temps are high, and so is the price for a barrel of WTI. Regardless, we are here to see what commodity levels are at, so kick back, grab a brew, and let's get to analyzing! Starting with the API report,...
Oil and Gas M&A Summary – May 2021
After continued demand destruction as a result of the global pandemic following historic price declines as a result of the Russia-Saudi price war, the oil and gas industry has been forced to re-calibrate in response to shifting market conditions with capital discipline taking center stage. Although 2020 saw the fewest deals across the sector in more than a decade, consolidation through this price cycle seems to be the driving force of 2021 as companies push to boost margins, cut emissions, and prepare for the energy transition.
Energy Market Report Card – Oasis Petroleum (OAS)
Chevron Corporation is a publicly traded upstream and downstream integrated energy company with NYSE ticker CVX. Following the FY2020 earnings release and company 10-K, a financial ratio analysis was performed to evaluate the firm. Several performance metrics were benchmarked to competitors in the industry as well as Chevron’s prior years. Although CVX showed declines year-over-year in several of these areas, a major driver appeared to be lost revenue due to commodity prices and the results also outperformed competitors in several areas.
Thirsty Thursday: An Inventory Report (6/3)
Welcome to a new segment from RARE PETRO: Thirsty Thursday! Here we will see if we’ve been poured another tall glass of crude and whether or not the US was thirsty enough to suck down another round. It is time to grab a drink, kick back, and dive into some data!...
Thirsty Thursday: An Inventory Report (7/22)
Last week's report Welcome back to the eighth edition of Thirsty Thursday, an inventory report from RARE PETRO! This...
Thirsty Thursday: An Inventory Report (7/15)
Welcome back to the seventh edition of Thirsty Thursday! We don't care if you prefer the EIA or API data, because both...
Thirsty Thursday: An Inventory Report (7/8)
Welcome back to the sixth edition of Thirsty Thursday! Hopefully everyone had (or is still having) a great holiday...
Thirsty Thursday: An Inventory Report (7/1)
Welcome back to the fifth edition of Thirsty Thursday! It is finally July, and our company would like to say happy...
Thirsty Thursday: An Inventory Report (6/24)
Welcome back to the fourth edition of Thirsty Thursday! This one is coming out early in the morning because the RARE...
Historic Droughts and Electricity Security
Record-toppling, early-season heat waves well into the triple digits have spread across the western portion of the United States straining electricity grids as a severe drought constricts hydroelectric power generation. As the summer months continue, electricity security is beginning to bear its ugly face yet again as states like California and Texas brace for a difficult season.
OAS Market Report Card
How does Oasis Petroleum's balance sheet stand up to its competitors, along with its past couple quarters of...
Thirsty Thursday: An Inventory Report (6/17)
Welcome back to the third edition of Thirsty Thursday! The best way to get through this heat wave is to grab an ice...
Thirsty Thursday: An Inventory Report (6/10)
Welcome back to the second episode of Thirsty Thursday! The temps are high, and so is the price for a barrel of WTI....
Oil and Gas M&A Summary – May 2021
After continued demand destruction as a result of the global pandemic following historic price declines as a result of the Russia-Saudi price war, the oil and gas industry has been forced to re-calibrate in response to shifting market conditions with capital discipline taking center stage. Although 2020 saw the fewest deals across the sector in more than a decade, consolidation through this price cycle seems to be the driving force of 2021 as companies push to boost margins, cut emissions, and prepare for the energy transition.
Energy Market Report Card – Oasis Petroleum (OAS)
Chevron Corporation is a publicly traded upstream and downstream integrated energy company with NYSE ticker CVX. Following the FY2020 earnings release and company 10-K, a financial ratio analysis was performed to evaluate the firm. Several performance metrics were benchmarked to competitors in the industry as well as Chevron’s prior years. Although CVX showed declines year-over-year in several of these areas, a major driver appeared to be lost revenue due to commodity prices and the results also outperformed competitors in several areas.
Thirsty Thursday: An Inventory Report (6/3)
Welcome to a new segment from RARE PETRO: Thirsty Thursday! Here we will see if we’ve been poured another tall glass...
Rising Chinese GHG Emissions
For the first time since national greenhouse gas emissions have been measured, China’s annual emissions in 2019 exceeded those of all developed countries combined. While their per-capita demand is still lower than the average of other OECD countries, China has been trending in the wrong direction in terms of emissions growth. With GHG emissions continuing to grow while the rest of the world commits to reductions, China appears to be focused on its own economic recovery over meeting global climate goals.
CVX Market Report Card
How does Chevron's balance sheet stand up to its competitors, along with its past couple years of performance? Find...
Hedging to Hemorrhaging
The implementation of an effective hedging program can be a tool that helps ensure certainty of cash flow and provide longer reaction time in the event of a market price collapse. On the flip side of the coin, if prices rebound as they did in the first quarter of 2021, producers are left behind while the market surges. With United States E&P Companies projecting $7 billion in hedging losses for the quarter, it will be important to keep a close eye on which companies choose to continue to hedge early for guaranteed revenue protection and those that hold out or hold off to risk the market volatility in hopes of even more revenue.
Energy Market Report Card – Chevron Corporation (CVX)
Chevron Corporation is a publicly traded upstream and downstream integrated energy company with NYSE ticker CVX. Following the FY2020 earnings release and company 10-K, a financial ratio analysis was performed to evaluate the firm. Several performance metrics were benchmarked to competitors in the industry as well as Chevron’s prior years. Although CVX showed declines year-over-year in several of these areas, a major driver appeared to be lost revenue due to commodity prices and the results also outperformed competitors in several areas.
Biden’s Earth Day Summit
United States President Joe Biden hosted a two-day virtual summit of world leaders coinciding with Earth Day to address the global climate crisis. With a commitment to cut greenhouse gas emissions 50-52% by 2030 relative to 2005 levels, Biden intends to cement his leadership in the global fight against climate change and develop credibility in his plea for other countries to join the cause.
California’s Battle Over Oil
California Senate Bill 467 set out to gradually phase out oil and gas extraction processes that account for most of the state’s petroleum industry but failed to muster the five necessary votes needed to advance in the state legislature. Key points on the bill were to ban enhanced oil recovery techniques, add a 2,500-foot setback clause, and encourage CalGEM to utilize displaced oil and gas workers for the abandonment of old oil and gas sites. But, California Governor Gavin Newsom took matters into his own hands after the bill did not move to the legislature. He has since tasked state agencies to move away from fossil fuels and combat climate change by halting the issuance of hydraulic fracturing permits by 2024 and planning to phase out oil and gas extraction two decades later.
Energy Sector Tax Credits
President Joe Biden’s recently unveiled a tax plan to accompany his $2 trillion infrastructure proposal that takes direct aim at fossil fuel subsidies in favor of clean energy incentives. The “Made in America Tax Plan” is set to raise the corporate income tax rate from 21% to 28% and replace fossil fuel subsidies with clean energy incentives. The plan outlines several clean energy tax credits, including a 10-year extension of wind, solar, and battery tax credits, but does not specify which fossil fuel subsidies could face the chopping block.
Post-COVID Global Oil Demand Update – Vaccinations and the Summer Travel Bug
Hopes were high as the world entered a new year that 2021 was going to be the year that things went back to “normal,” but the first few months made those hopes seem like a far fetched idea. Improved economic activity and global mobility in the first quarter of 2021 was stalled by slow vaccine rollouts around the world and a stubborn third wave of lockdowns imposed throughout Europe. Luckily the second quarter has seen an explosion in global crude oil demand as vaccination campaigns have picked up the pace and travelers worldwide seem to have caught the summer travel bug. While the timeline to pre-crisis demand has been delayed, people around the world will still need plastics for their daily activities, roads and vehicles to travel from place to place, goods and services created and shipped with hydrocarbons, and other consumables derived from crude oil which will continue to boost demand through 2021.