Richard Redoglia

ED&F Man is in discussions for a takeover by Hartree Partners, highlighting the trend of energy traders diversifying into broader markets. Hartree's interest follows its acquisition of a significant portion of ED&F Man's debt, exceeding $1 billion. This potential acquisition underscores the changing dynamics of commodity trading, with established players like ED&F Man attracting interest from newer entrants such as energy trading firms. Notably, other energy trading giants like Trafigura, Vitol, Gunvor Group Ltd and Mercuria have also expanded beyond their tradition energy markets. These expansions can be attributed to several factors, including the high profits from recent energy trading, the interconnectedness of various commodity markets, and the potential of the energy transition which may require expertise in new commodities. #energy #acquisition #commodities Follow Kepler Search and www.keplersearch.com for #commoditiesjobs, #tradingjobs, #energyjobs and news in #oilandgas, #metals, #agriculture #commodities, #trading and more. https://lnkd.in/gCask8ts

89

4 Comments

LNG supply market will likely face a volatile environment due to feedgas supply availability as well as unplanned outages from main suppliers. Expecting to have a thermal gap in the power market for a while, #storage will need to play a key role in covering part of this exposure to #naturalgas prices.

7

The recent wave of M&A activity could point to a resurgence in the oil & #gasindustry. Matador Resources' $1.9bn acquisition of Permian Basin properties and Noble Corp.'s $1.6bn acquisition of Diamond #OffshoreDrilling are examples of companies taking bold steps to expand their operations. With their strong asset bases and solid financial prospects that can capitalize on the #oil industry's recovery, these companies could attract investors. But as always, it's still important to conduct thorough research before making any decisions. https://loom.ly/95l4g6k

1

PERMIAN BASIN: ANOTHER VIEW.....SLOWER GROWTH IN PRODUCTION BUT MORE WELLS? #PERMIAN #OIL #GAS #PRODUCTION #EFFICIENCY #DRILLING #SENSITIVITY #GLOBALTREND #ENERGY #OUTLOOK #WELLPRODUCTION https://lnkd.in/gbZY2eMs

1

2 Comments

Record lows see LNG spot prices dip below $7,000 a day https://lnkd.in/eqYEPw3E

2

Venture Global is set to start producing liquefied natural gas at its second giant plant on the Gulf coast within days, as the company prepares to float in one of the largest energy listings in US history. The LNG developer, which is engaged in a bitter stand-off with Shell and BP, this week received key regulatory approvals required to turn on its Plaquemines facility in Louisiana, said people familiar with the matter. Free link https://on.ft.com/4eTWPU1 The facility will be the US’s eighth major LNG export terminal and its second biggest, and will switch on just weeks before Donald Trump assumes the presidency with a plan to project American “energy dominance” based on the country’s abundant fossil fuel output. At 20mn tonnes a year when fully online, Venture Global’s new facility will produce an amount equal to more than a fifth of current US LNG output capacity — and almost four times as much as Germany imported in 2023. One of the company’s tankers, the Venture Bayou, has docked at the new export terminal in preparation to start loading LNG for shipment. Venture Global declined to comment on the plans. The Plaquemines facility is a major milestone for a company that has grown rapidly over the decade, riding a wave of global demand for US gas. Its first export terminal, Calcasieu Pass, came online in March 2022 just as gas prices soared following Russia’s full-scale invasion of Ukraine. A third project, CP2, is awaiting a Department of Energy export license, a process that has been held up by a permit freeze enacted by Joe Biden’s administration. Trump has vowed to end the moratorium. Financial Times Myles McCormick Venture Global LNG bp Shell

6

#Hedgefunds are ramping up hiring for #commodities professionals with expertise in #naturalgas #trading, #physicalcommodities markets, and advanced #quantitative tools. Citadel’s recent success in generating $4bn in profits, driven by natural gas trading in Europe and North America, highlights the growing demand for specialists in this sector. The firm’s merchant trading group, Citadel, has also set a trend by integrating physical trading capabilities such as storage, transportation, and weather derivatives, prompting competitors like Balyasny Asset Management L.P. and Jain Global to build similar physical commodities operations. As #crudeoil trading faces diminished volatility, firms are diversifying into other markets such as copper and cocoa, creating opportunities for professionals with cross-commodity expertise. Hedge funds are increasingly seeking talent that can navigate both physical and financial markets while leveraging data-driven strategies to stay competitive in a challenging trading environment. Follow Kepler Search and www.keplersearch.com for #commoditiesjobs, #tradingjobs, #lngjobs, #energyjobs and news in #oilandgas, #metals, #renewableenergy, #commodities, #trading and more. https://lnkd.in/gfmZ4k8u

107

You must read thoroughly through this article on cash flow, prices, and debt regarding EQT. The trap being set by selling new wells production at current prices could lead to the company's downfall due to existing debt. To avoid collapse, prices need to increase to a minimum of $3.50 for a successful investment. Interest rates, gas prices, and prudent management are crucial during this challenging period until the market improves. Returning to existing pads and drilling them out to full capacity is essential, due to the substancel cost have been incurred, along with advancing the Data center concept, Toby Rice spoke of, Trans Canada's plan to connect their lines directly to the Data center aligns well with this strategy, they just announced. The shift towards AI-driven centers is the next generation move, leaving behind LNG as prices plummet globally. The USA is poised to lead the industrial revolution in Natural Gas, akin to Coal, Oil, and Steel. Let's learn from past mistakes and avoid the pitfalls seen in the industry from 2008 to 2018. Find more insights in the article:

4

Exxon Mobil plans to increase its production to 2M barrels per day by 2027 in the Permian region. To do this, they acquired Pioneer Natural Resources for about $60 billion. This is the biggest deal in shale oil history. And it will 2X their production to 1.3M barrels/day. The competitive landscape in the Permian Basin is going to be intense. What does this mean for Texan businesses in the area? ✅ Everything from roads and transport networks to pipelines and storage facilities— local construction and engineering businesses could see an influx in projects. ✅ Increase in demand for supplies ranging from drilling equipment to safety gear and IT systems. Local suppliers will have the opportunity to scale up their operations to meet this demand. ✅ Smaller companies may struggle to compete with a behemoth like Exxon Mobil. This could reshape the market dynamics, favoring larger, more financially robust companies. Looking to meet increased demand? Or sustain your competitive edge? Send me a message with “CAPITAL” and let’s see how we can help. Momentum Capital Funding, LLC - We provide the capital you need to keep growing, funding 75-90% of the total amount of your invoice. #growth #strategy #business #entrepreneurship #innovation Source: Rextag (https://lnkd.in/gCH-Rrer)

37

The US proposes to punish oil companies for colluding with OPEC. Companies that colluded with OPEC to raise oil prices are proposed to be deprived of the right to receive new production licenses in the US. US Democratic lawmakers have introduced a bill to hold US energy companies accountable if they are found to be colluding with OPEC to inflate oil prices. Such companies will no longer be able to obtain licenses for oil and gas fields on US federal lands and waters. Earlier in May, the US Federal Trade Commission (FTC) accused Pioneer Natural Resources CEO Scott Sheffield of exchanging hundreds of messages and even having lunches with OPEC officials to allegedly artificially raise oil prices. In turn, the top manager did not agree with the accusation, but was removed from the board of directors of ExxonMobil, which bought Pioneer for $60 billion. Although the bill has little chance of being adopted due to the minority of Democrats in the Senate compared to the Republican majority, the initiative clearly demonstrates that the US authorities continue to put pressure on oil companies. https://lnkd.in/eQkyHyPe

2

🛢 Shell beats profit expectations, launches share buyback program British oil giant Shell on Thursday posted stronger-than-expected second-quarter profit despite lower refining margins and weaker liquified natural gas trading. The oil and gas major reported adjusted earnings of $6.3 billion for the three-month period through to the end of June, beating analyst expectations of $5.9 billion, according to estimates compiled by LSEG. Shell said it would launch a $3.5 billion share buyback program over the next three months, a similar rate as in the previous quarter. The company’s dividend remains unchanged at 34 cents per share. “We’re in a good place and we have good momentum as we see it but a lot more to do,” Shell CEO Wael Sawan told CNBC’s “Squawk Box Europe” on Thursday. ✍ Here's the full story: https://lnkd.in/eyFUFdaS #oil #energy #earnings

5

🌡️ Natural Gas Futures Falter Amid Mixed Market Signals 🌡️ Despite some bullish supply-side indicators and pockets of demand, natural gas futures struggled to build on recent gains this week. Here's a quick breakdown: 🔍 Key Highlights: Production: Holding steady above 100Bcf/d Cooling demand: Showing signs of moderation EIA storage report: Expected to show bullish injection numbers On Wednesday, the October NYMEX NatGas futures contract lost $0.58, settling at $2.145/MMBtu, following a previous session gain of $0.76. 📉 Meanwhile, spot gas prices continued their upward trajectory, with NGI’s Spot Gas National Avg. climbing $0.20 to $1.750, as bargain buyers returned to the market. ⚖️ Market Fundamentals: Liquefied Natural Gas (LNG) demand remained strong, balancing early signs of reduced weather-driven demand. Production: Holding at 100.6 Bcf/d, slightly down from recent peaks. Weather: While scorching heat persists in parts of the South and West, milder conditions in the North and East are expected to keep national demand at moderate levels for the near term. 🌞🌧️ 🌍 Natural Gas Storage: The next big focus is Thursday’s EIA storage report, with analysts expecting an injection well below the five-year average. NGI predicts a 20Bcf build, compared to the usual 51Bcf for this time of year. Working gas in storage currently stands at 3,334Bcf, with a surplus of 361Bcf. Despite recent declines, some "experts" warn that continued strong production and high inventories could pose downside risks heading into winter. ❄️ 🔥 Spot Prices & Regional Trends: Florida Gas Zone 3: +14.0 cents to $2.415 Transco Zone 5: +38.0 cents to $2.125 Henry Hub: +7.0 cents to $2.055 Waha in West Texas: Recovered to -$0.10, but the supply glut continues to weigh on prices. NatGasWeather reports moderate national demand through Friday, with cooler weather in the East and hot temps in the West, creating a neutral backdrop for cash markets. 🌪️ Tropical Storm Outlook: While the first half of September is expected to be mild in terms of storm activity, researchers at Colorado State University predict more favorable conditions for tropical cyclone development as the month progresses. 🌊 The natural gas market may remain range-bound in the short term, but keep an eye on evolving weather patterns and production shifts. 🌡️📊 #NaturalGas #EnergyMarkets #CommodityTrading #LNG #Weather

1

09-May 2024 | review of price volatility & trading activity for crude oil, NGLs & olefins I am launching an ongoing review of trading activity for NGL markets in Mont Belvieu & olefins markets in TX and LA. Typically, I will post the review on Monday morning. I will also post commentary on important developments that occur unexpectedly. The weekly posts have an analytical focus on factors that influence short term trading including 1) aberrations in EIA's weekly statistics, 2) unexpected downtime in olefins plants, 3) weather related downtime, 4) geopolitical events (Houthi rebel attacks on shipping) and the impact of these activities on prices. Once a month (beginning today), the review of trading activity will highlight the previous month's price volatility index for crude oil, natural gas at Henry Hub, ethane, propane, non-TET normal butane, isobutane & natural gasoline. VIX (price volatility index) is a measure of day-to-day price change. VIX changes occur when unexpected events cause buyers and traders to scramble to cover positions. VIX is higher when short sellers are more active and is lower when short sellers are less active. When buyers and consumers are less active in physical commodity markets, traders (especially short sellers) become, by default more influential on a day-to-day basis. crude oil: daily price VIX in Apr for WTI (Magellan East Houston) was 1.22 v. 1.33 in Mar & 2.08 in Feb. VIX for dated Brent declined in April (1.46) v. 1.97 in Mar. Vix for Dubai fell to 1.04 in Apr v. 1.11 in Mar. VIX for Dubai was lower than WTI MEH and dated Brent for the 3rd consecutive month. purity ethane: VIX was slightly higher in Apr (2.0 v. 1.92); prices fell 2+% on 4 days & rose 2+% on 2 days. Daily price changes (+/- 2% or more) exceeded 2% on 3 of the last 5 trading days in Apr with 3 days -3% or more. Short selling & weak gas pricing will continue to influence ethane trading in May. propane: VIX fell to 1.59 v. 2.03 in Mar. Prices fell 2% or more on 4 days in Apr & prices had no "up" days of 2% or more. Prices declined 6 of the first 11 trading days & 6 of the last 11 trading days. Highlights for trading and price variability for non-TET normal butane & isobutane will be the topic of a follow up post. #PriceVolatility, #crude #ethane #propane

5

1 Comment

LNG: A Critical Transition Fuel bridging to a more Sustainable Future. As we navigate the challenges of 2024, the U.S. liquefied natural gas (LNG) export sector faces uncertainty, especially following recent court decisions. However, LNG remains a vital transitional fuel in the movement toward sustainable energy. For examole, transitioning from coal and high-emission fuels is essential for reducing carbon emissions and slowing climate change. LNG offers a practical alternative, potentially cutting CO₂ emissions by up to 69% when replacing coal-fired power plants, all while ensuring reliable energy supply. In addition, advances in gas turbine technology continue with some projections that energy efficiencies above 80% may be achievable. By integrating LNG into a steuctured energy strategy, we can reduce reliance on more polluting fuels, foster a healthier environment, and begin to transition to a more sustainable future. Prioritizing LNG initiatives and natural gas infrastructure will pave the way for a thriving energy landscape that benefits our people, our planet, and the economy.

3

www.polymerupdate.com *International Energy Agency trims crude oil demand growth forecast for 2024, gap widens with OPEC+ projections* The Paris-based autonomous intergovernmental organisation, the International Energy Agency (IEA), has trimmed its crude oil demand forecast for 2024, widening the difference with the projections made by the producers’ cartel, the Organisation of the Petroleum Exporting Countries (OPEC) and allies (OPEC+). The latest projection may force the OPEC+ members to extend the voluntary output cut beyond June 2024 to achieve supply-demand equilibrium in the market and support the price favourably. Please open link to read full article: https://bit.ly/4arpNZ8 www.polymerupdate.com

2

Dealmaking in US oil and gas has surged to almost $200bn in the past year as the biggest producers compete to swallow up rivals in a race for scale that has redrawn the national energy landscape. But as the country’s best drilling acreage is snapped up, companies are casting a wider net and looking beyond the most sought after oilfields for acquisitions that will bolster their ability to pump hydrocarbons in the years ahead. “We are in the midst of a consolidation wave and I don’t think it is over yet,” said Jon Hughes, chief executive of Petrie Partners, a boutique investment banking firm which advised on Pioneer Natural Resources’ $60bn sale to ExxonMobil. “We’ve gone from about 65 to 41 publicly traded oil and gas companies in the US in less than five years.” Read full article here https://on.ft.com/4aJVaOU  Myles McCormick Financial Times 

38

2 Comments

🗺️ The O&G industry is seeing a new investment boom with E&P activities heating up globally again. The industry faces a new investment race, as the U.S. Energy Information Administration forecasts 2024 oil demand growth rate will outpace supply. ✔️Upstream O&G is seeing a resurgence of investment activity: Upstream investments increased 11% in 2022 and another 7% in 2023. ✔️The trend is expected to continue in 2024. ✔️The surge prevails in North America with favorable market conditions and tech advances driving capital. ✔️Middle East and Asia are also ramping up their investments to meet growing energy demands and export commitments. ✔️Upstream O&G in Malaysia and Indonesia is also ramping up. Envana client PETRONAS is increasing upstream spending with an E&P focus including increased offshore exploration. Today, oil and gas operations account for around 15% of total energy-related emissions globally, the equivalent of 5.1 billion tonnes of greenhouse gas emissions. In the International Energy Agency’s Net Zero Emissions by 2050 Scenario, the emissions intensity of these activities falls by 50% by the end of the decade. Combined with the reductions in oil and gas consumption in this scenario, this results in a 60% reduction in emissions from oil and gas operations to 2030. Five key levers are used to achieve this reduction in emissions intensities: 💨tackling methane emissions, 🔥eliminating all non-emergency flaring, 🍃electrifying upstream facilities with low-emissions electricity, 🛢️equipping oil and gas processes with carbon capture utilization and storage (CCUS), 💡and expanding the use of low-emissions electrolysis hydrogen in refineries. Tackling methane emissions is the most important measure contributing to the overall fall in emissions from oil and gas operations, followed by eliminating flaring and electrification. Enter Envana Software Solutions, a company of oil and gas and software engineers/professionals and GHG SMEs tackling your key challenges. Our team of experts is eager to support yours with actionable data to meet your sustainability objectives. Partner with a firm that truly understands our industry and how O&G companies like yours operate. With Envana, you can establish a trustworthy path toward decarbonizing your operations with informed insights that optimize your bottom line. This is why Envana is leading emissions management for oil and gas. Reach out to Envana today: https://hubs.ly/Q02Cd-gF0 https://hubs.ly/Q02Cf4Kc0 #GHG #Emissionsmanagement #EIA #OilandGas #Methane

11