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Latest Developments from West Texas

By: Matt Reese / Posted on: March 7, 2019

Chevron and ExxonMobil highlighted an aggressive strategy for drilling in the Permian Basin over the next five years to their investors this week.  Exxon is aiming to increase production to 1 million barrels per day while Chevron is targeting an additional 900,000 barrels per day, all by the end of 2024.  The presentations from both companies exemplify a growing trend in the region that has made the United States the world’s top producer of oil and natural gas. 

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Trade Deal Hopes Buoys the Bulls

By: Mike Dombroski / Posted on: March 4, 2019

WTI oil prices rose Monday morning to $56.94/barrel due to a barrage of bullish headlines which puts this year’s oil rally north of 22% and climbing.

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Big Discovery in the North Sea

By: Sam Stires / Posted on: February 15, 2019

The CNOOC, China National Offshore Oil Corporation, has made a significant gas discovery in the central North Sea. The CNOOC, joined by Joint Venture (JV) partners Total and Edison, estimate the find to potentially 250 million barrels of oil. Glengorm, potentially the biggest find since 2008, sits 118 miles east of Aberdeen, Scotland close to existing fields the Culzean project and Elgin-Franklin platform. “Our strong position in the region will enable us to leverage existing infrastructures nearby and optimise the development of this discovery. Glengorm is an achievement that demonstrates our capacity to create value in a mature environment thanks to our in-depth understanding of the basin.”

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Sharp Rally, Now What?

By: Mike Dombroski / Posted on: February 5, 2019

After a sharp rally to begin the year, oil prices have been trading in a tight range over the past two weeks and are waiting for their next cue to determine price direction.

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Prioritizing Fossil Fuel

By: Sam Stires / Posted on: January 21, 2019

During the lengthiest government shutdown in United States history, prioritizing fossil fuel development continues to take precedence for the Trump Administration. An estimated 800,000 federal workers went without paychecks however the administration has still found ways of moving forward for “energy dominance.”

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Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.

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