Drilling. Could we see a drop in Total Rig Count? | BRYYY Message Board Posts


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Msg  92479 of 734166  at  5/7/2012 2:56:02 PM  by

ghmndod


 In response to msg 92477 by  valueconcious
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Re: Drilling. Could we see a drop in Total Rig Count?

From Oxy's 1st qtr See the 3rd bullet point
1Q12 realized prices were mixed for our products compared to 4Q11.
Our worldwide crude oil realized price was $107.98 per barrel, an
increase of 8%, worldwide NGLs were $52.51 per barrel, a decrease
of about 5%, and domestic natural gas prices were $2.84 per mcf, a
decline of 21%.
Realized oil prices for the quarter represented 105% of the average
WTI and 91% of the average Brent price. Realized NGL prices were
51% of WTI and realized domestic gas prices were 100% of the
average NYMEX price.
First Quarter 2012 Earnings Oil & Gas
Segment Realized Prices
7
The NGL realization is low by historical standards and indicates a
troubling trend. Over the last five years, domestic NGL realizations
have dropped from about 73% to 52% of WTI. Absolute realized price
of NGLs is not significantly different than five years ago.
Price changes at current global prices affect our quarterly earnings
before income taxes by $36 million for a $1.00 per barrel change in
oil prices and $8 million for a $1.00 per barrel change in NGL prices.
A swing of 50 cents per million BTUs in domestic gas prices affec

As cos focus on liquids the returns as with NG are dropping!!!


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