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LNG Market Snapshot

There has been no new addition to the global LNGC fleet, which consists of 366 vessels in total. The order book, however, expanded by 3 vessels to 110 units. Atlantic and Pacific LNG demand softened m-o-m, resulting in LNG prices down into the US$17-19/mmBtu range for early April deliveries and down to US$15/mmBtu for May. The LNG supply outlook remains tight until at least 4Q 2014. Spot charter rates also softened m-o-m as limited spot cargo availability reduced activity and the situation is likely to endure in 2014.

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Oil Market Snapshot

The average Brent oil price was stable at around $108/bbl in March. Developments in Crimea only had a minor impact on oil prices (short-lived $2-3/bbl spike). World oil supply jumped by 600,000 b/d in February, mostly from Iraq. Despite signs of a slowing Chinese economy, the world economy is projected to grow by 3.7% in 2014 (IMF). Oil market fundamentals are robust but a well supplied market could add some downward pressure on prices. CAPEX cuts across the oil industry are likely to limit majors’ production growth in 2-3 years from now.

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Bakken and Eagle Ford Shale Production

In February, the Bakken performed better overall compared to December 2013, with slower production decline and higher output but with fewer wells drilled. However, average per-well production of 580 b/d for 2013 was less than the peak in 2010. The Bakken's rig count was down compared to January 2014. Eagle Ford’s December 2013 production was up 31.4% y-o-y but down 3.2% m-o-m. The resource play’s rig count was also down compared to January 2014.

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Petrologica: Energy Research and Simulation

Petrologica flies you fast forward to the future with a world of interactive and dynamic simulation tools.

We build simulators, models and scenario tools for market planners, management and investors to assist organisations in understanding the nature of tomorrow's energy markets.  We undertake private research on clients' request, enabling us to meet individual client requirements.

 

                      Assess the sensitivities of key market factors as they diverge from their assumed positions through our simulation tools.
                         
                      Gain access to a substantial and meticulously maintained database covering oil and gas fields, drilling rigs and energy production around the globe.
                         
                      Place your organisation in a unique position to understand and plan for what is to come.
                         
                      Benefit from bespoke reports and forecasts to meet your specific needs.
                         
                      Enjoy access to Petrologica’s tools and analyses on an iPad or Android tablet.
   

 

 

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