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Tom Kool

Tom Kool

Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com's Head of Operations

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Oil Prices Fall Further As Saudis Boost Exports

For the first time ever, Oilprice.com is releasing its annual Top 50 Oil & Gas Companies report to readers. This 5-part series includes an in-depth financial and geopolitical analysis of each company, including their greatest strengths and biggest risks. This year, a limited number of our Global Energy Alert subscribers will get the chance to see which company topped the list!

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- The number of drilled but uncompleted wells (DUCs) has continued to increase, rising to 8,504 as of February 2019, roughly 25 percent higher than a year earlier.

- The completion process includes “casing, cementing, perforating, hydraulic fracturing, and other procedures required to produce crude oil or natural gas,” as the EIA puts it.

- DUCs have climbed rapidly since 2016 due to multiple factors, including low oil prices; bottlenecks for a variety of services, such as frac sand or fracking crews; and pipeline constraints.

Market Movers

• Lion Point Capital, a hedge fund, disclosed a 6.3 percent active stake in Carrizo Oil & Gas (NASDAQ: CRZO) and said that shareholders of the E&P would benefit from a merger.

• BP (NYSE: BP) approved an expansion of its Thunder Horse project, which will add 50,000 barrels of oil equivalent per day by 2021.

• Kosmos Energy (NYSE: KOS) said it would sell down…

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