• 5 minutes Trump vs. MbS
  • 9 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Can the World Survive without Saudi Oil?
  • 3 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours The Dirt on Clean Electric Cars
  • 16 mins Petrol versus EV
  • 14 mins EU to Splash Billions on Battery Factories
  • 7 hours These are the world’s most competitive economies: US No. 1
  • 7 hours The end of "King Coal" in the Wales
  • 16 hours Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 14 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 1 day Uber IPO Proposals Value Company at $120 Billion
  • 6 hours E-mopeds
  • 16 hours Coal remains a major source of power in Europe.
  • 6 hours 10 Incredible Facts about U.S. LNG
  • 23 hours Poland signs 20-year deal on U.S. LNG supplies
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Is The OPEC Deal Within Reach?

Rig

Friday, September 2 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Mexico steps up oil hedging

(Click to enlarge)

- Mexico just announced that it has secured $9.5 billion in oil sales for 2017, hedging its bets at a shockingly low price of $38 per barrel.

- Mexico is the largest sovereign oil price hedger in the world, and has consistently locked in sales at fixed prices for the following year.
- Its 2017 hedges, at 250 million barrels, is the largest volume for the country since the aftermath of the financial crisis in 2009.
- While its strike price of $38 per barrel may raise some eyebrows, Mexico isn’t taking any chances. And it has history on its side: Mexico could take in as much as $3 billion this year because it hedged oil last year at prices just under $50 per barrel. At the time, that deal also turned some heads, but it has proved to be a smart move.

2. Fewer wells needed to keep Permian production flat

(Click to enlarge)

- The Permian is attracting a greater share of interest and investment as shale companies focus their efforts on the West Texas shale basin.
- More than half of the value of the total volume of assets sales in the shale industry…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News