Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 25/Oct, US crude inventories fell by 0.5m barrels, against expectations of a 1.5m barrel increase. Gasoline stocks also bucked forecasts of a build. </li>
<li>US natural gas inventories rose 78 Bcf for the week ending 25/Oct, marginally lower than analyst expectations of a 79 Bcf buildup. Inventories are 4.8% above the 5-year seasonal average.</li>
<li>Shell and Chevron exceeded both revenue and EPS estimates, while Exxon and BP topped EPS but missed on revenue. TotalEnergies beat revenue expectations but fell short on EPS.</li>
</ul>


For the week ending 25/Oct, US crude inventories fell by 0.5m barrels, against expectations of a 1.5m barrel increase. Gasoline stocks also bucked forecasts of a build. 
US natural gas inventories rose 78 Bcf for the week ending 25/Oct, marginally lower than analyst expectations of a 79 Bcf buildup. Inventories are 4.8% above the 5-year seasonal average.
Shell and Chevron exceeded both revenue and EPS estimates, while Exxon and BP topped EPS but missed on revenue. TotalEnergies beat revenue expectations but fell short on EPS.


[ETP 2024/44] WTI Rallies on Healthier Demand Outlook; Henry Hub Stumbles Under Weather Woes

<ul>
<li>For the week ending 18/Oct, US crude inventories increased by 5.5m barrels, exceeding expectations of a 0.8m barrel build. Gasoline stocks defied expectations of decline while distillate inventories fell lesser-than-expected.  </li>
<li>US natural gas inventories rose 80 Bcf for the week ending 18/Oct, higher than analyst expectations of an 61 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Schlumberger missed revenue estimates by 1.2% but beat EPS forecasts by 0.6%, prompting analysts to cut target prices. Meanwhile, Saudi Aramco's CEO anticipates improved Chinese oil demand post-stimulus.</li>
</ul>


For the week ending 18/Oct, US crude inventories increased by 5.5m barrels, exceeding expectations of a 0.8m barrel build. Gasoline stocks defied expectations of decline while distillate inventories fell lesser-than-expected.  
US natural gas inventories rose 80 Bcf for the week ending 18/Oct, higher than analyst expectations of an 61 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
Schlumberger missed revenue estimates by 1.2% but beat EPS forecasts by 0.6%, prompting analysts to cut target prices. Meanwhile, Saudi Aramco's CEO anticipates improved Chinese oil demand post-stimulus.


[ETP 2024/43] WTI Rebounds as Middle East Conflict Escalates; Henry Hub Rises on Improving Demand

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul>
<li>Criterium Energy (CEQ CN) C ; Target price C$0.35 per share: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as reported on 24 September.</li>
<li>The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to excellent oil shows in the main TAF target that will now be perforated.</li>
<li>Due to unstable hole conditions in MGH-43, Criterium was unable to conduct pressure testing and resistivity calculations on the zones of interest and therefore could not determine the estimated productivity rates. </li>
</ul>


Criterium Energy (CEQ CN) C ; Target price C$0.35 per share: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as reported on 24 September.
The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to excellent oil shows in the main TAF target that will now be perforated.
Due to unstable hole conditions in MGH-43, Criterium was unable to conduct pressure testing and resistivity calculations on the zones of interest and therefore could not determine the estimated productivity rates. 


<ul>
<li>For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.</li>
<li>US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.</li>
</ul>


For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.


[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

<ul>
<li>For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.</li>
<li>US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.</li>
<li>Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.</li>
</ul>


For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.
US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.
Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.


[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

United States

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis.  The Company's operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

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Exxon Mobil (XOM US)

[ETP 2024/44] WTI Rallies on Healthier Demand Outlook; Henry Hub Stumbles Under Weather Woes

US crude and gasoline inventories defy expectations, while natural gas storage sees above normal increase. Shell & Chevron outperform revenue and...

Mint Finance

[ETP 2024/43] WTI Rebounds as Middle East Conflict Escalates; Henry Hub Rises on Improving Demand

US crude inventories surged, natural gas inventories rose, Schlumberger missed revenue but beat EPS, Saudi Aramco CEO optimistic about Chinese oil...

Mint Finance

AUCTUS ON FRIDAY - 18/10/2024

Criterium Energy (CEQ CN) C: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as...

Auctus Advisors

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/44] WTI Rallies on Healthier Demand Outlook; Henry Hub Stumbles Under Weather Woes

​US crude and gasoline inventories defy expectations, while natural gas storage sees above normal increase. Shell & Chevron outperform revenue and...

Mint Finance

[ETP 2024/43] WTI Rebounds as Middle East Conflict Escalates; Henry Hub Rises on Improving Demand

​US crude inventories surged, natural gas inventories rose, Schlumberger missed revenue but beat EPS, Saudi Aramco CEO optimistic about Chinese oil...

Mint Finance

AUCTUS ON FRIDAY - 18/10/2024

Criterium Energy (CEQ CN) C: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as...

Auctus Advisors

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

​US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

​WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

US crude and gasoline inventories defy expectations, while natural gas storage sees above normal increase. Shell & Chevron outperform revenue and...

US crude inventories surged, natural gas inventories rose, Schlumberger missed revenue but beat EPS, Saudi Aramco CEO optimistic about Chinese oil...

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...