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Energy Recap: A Look Back At 2016


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By SA Editor Michelle Carini :

Welcome to the latest edition of the Energy Recap, the final one for 2016. It was quite a year, with lots of ups and downs in the sector. Here are just a few of the highlights (or lowlights, depending on your perspective):

  • OPEC decided to cut crude oil production in an agreement that includes Russia, the long-term effects of which remain to be seen.
  • The U.S. oil rig count increased throughout the year, with drillers having added about 200 rigs since May. Will this trend continue in 2017?
  • Production in the Permian Basin increased exponentially in 2016, and that growth appears poised to continue.
  • This year, the U.S. became a net exporter of natural gas for first time in more than 60 years. While this will likely have little effect on natural gas prices in the short term, there could be more of a long-term impact on how prices are set due to various global factors coming into play.
  • The election of Donald Trump as the next U.S. president came as a surprise to many, and his energy policies could have a major impact on the industry in 2017 (and beyond) - especially given his pledge to roll back regulations, among other things.
  • 2016 could be classified as "the year of energy bankruptcies," with more than 200 companies filing for protection. Check out the tables below, courtesy of Haynes And Boone , for a detailed list (as of Dec. 14); you can find even more data in the year-end edition of Haynes And Boone's Energy Bankruptcy Report here .

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We'd love to get your thoughts on the above items or anything else you found noteworthy this year. What's your opinion on what 2017 holds for the energy sector? Where do you think the price of oil is headed next year? Please leave a comment or two below.

With regard to the Energy Recap itself, 2016 proved to be a successful year in terms of readership and engagement, much of which can be attributed to the excellent ideas and suggestions passed along by readers. So thank you for that, and please keep them coming. Finally, we want to wish all of you a happy, healthy and prosperous new year!

Energy Articles of Note

" Jennifer Warren Positions For 2017: Focus On The Nexus Of Energy, Infrastructure, And Sustainable Futures " By Jennifer Warren

" Filloon's Oil Update: Diamondback's Midland Acreage Is Some Of The Best In The Country, And So Is Its Recent Acquisition " ([[FANG]]) By Michael Filloon

" Occidental Petroleum Or ConocoPhillips For 2017? " ([[OXY]], [[COP]]) By Michael Fitzsimmons

Energy Sector Bankruptcies for the Week Ended Dec. 30, 2016

Here's a list of the most recent bankruptcy announcements in the energy sector:

- None this week.

Given that there was no recap last Friday, we should note here that Dakota Plains Holdings (DAKP) announced that it filed for Chapter 11 bankruptcy on Thursday, Dec. 22.

Feel free to add anything that we might have missed in the comments section below.

U.S. Oil Rig Count

As per Baker Hughes , the number of active U.S. oil drilling rigs rose again for the ninth straight week.

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Weekly Natural Gas Storage Report and Summary

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Natural Gas Rig Count

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Oil Production

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As always, we encourage you to submit your own article by clicking here , if you haven't already done so.

See also Crude Oil Producers Closed More Hedges, And Speculators Remain Very Long Biased on seekingalpha.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: USO , UNG , OIL , UGAZ



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