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Old 12-26-2017,
Airbladeici Airbladeici is offline
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Last week, oil prices rose after government data showed a smaller-than-expected build in domestic gasoline inventories.

The U.S. Coast Guard said Tuesday the Calcasieu Ship Channel remains closed but that limited tug and barge traffic has resumed through an intercoastal waterway.

The channel has been off limits due to the spread of oil from a spill last week at the Citgo Petroleum Corp. facility in Lake Charles, Louisiana. It could remain closed through the end of the week, depending on how the cleanup proceeds, according to Coast Guard petty officer Chad Saylor.

On Tuesday, Iran's Ayatollah Ali Khamenei said the country does not need negotiations with the United States over its nuclear program, apparently seeking to reassure hard-liners the country will not cave in as it considers a key Western incentives package
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Old 12-27-2017,
Airbladedsk Airbladedsk is offline
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Default CTCC making a Huge run today

HOUSTON, June 27 (Reuters) - Marathon Oil Corp. (MRO.N: Quote, Profile, Research) is more interested in acquiring smaller oil and gas resource assets than using its growing cash hoard to buy another large U.S. company, its chief financial officer told Reuters on Tuesday.

Marathon CFO Janet Clark's comments come as an acquisition frenzy sweeps the energy sector, marked most recently by Anadarko Petroleum Corp.'s (APC.N: Quote, Profile, Research) deal to buy Kerr-McGee Corp. (KMG.N: Quote, Profile, Research) and Western Gas Resources Inc. (WGR.N: Quote, Profile, Research) for more than $21 billion.
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Old 12-28-2017,
agrohimian agrohimian is offline
 
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Marathon, sometimes cited as an acquisition target itself, isn't pinning its ambitions on growing to the scale of bigger U.S. rivals such as Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) or Chevron Corp. (CVX.N: Quote, Profile, Research), Clark said in an interview.

"It's not one of our objectives to catapult ourselves into the supermajor league," Clark said.

Soaring oil prices have left oil companies flush with cash, but they have also pushed up the price tags for acquisitions in the sector. Sharp rises in the costs to produce oil meant prices were likely to stay above an average of $40 a barrel over the long term, Clark said.

"The reality is costs have gone up so much that it will support a higher price," Clark said, noting spiralling costs for deepwater rigs and drilling. "You can't pay those kind of costs and get any kind of return at prices probably that are below $40 a barrel."

Marathon has moved the oil price assumption it uses internally to evaluate projects to about $40 a barrel from about $20 a barrel on average a few years ago, Clark said.
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Old 12-29-2017,
AhmadHolle AhmadHolle is offline
 
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Sorry didn't mean to rub it in was just having a great day and looking for 80 on SU. Hope the fed says the right things and su will see 80 soon. Take care and once again sorry
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Old 12-31-2017,
Agrwisaf Agrwisaf is offline
 
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SU just keeps going thru 81 now and looking good imo.-------------------If you think you've missed the Canadian oil sands boom...think again!

The suits on Wall Street are saying that the time to buy oil sands stocks has already come and gone. And yes -- you would've made quite the pretty penny buying oil sands production or exploration stock five years ago. But the fact is the overall sector still has a lot room to grow.

The Canadian Oil Sands Boom Continues

In May 2004, Canada's National Energy Board (NEB) released a report on the major aspects of the Canadian oil sands industry. The report assessed the opportunities and challenges facing the development of the massive oil sands resource.

Even back then with oil prices hovering around $40 a barrel the NEB recognized that the oil sands had massive potential written all over it.

Since that time, the conditions surrounding oil sands development have significantly changed for the better. Interests and activity in the oil sands has sharply ramped up for good reason. This has been primarily due:

Years of sustained higher oil prices resulting in increased cash flows and profitability for oil sands operators
An outlook for sustained high oil prices in the future
Increased recognition that the oil sands represent a very large, economically attractive accumulation of oil in a politically stable country
As a result of this heightened activity, the NEB decided to update their report, highlighting the major changes and developments. And it's huge news for the entire oil sands industry!
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