Opening prices:
WTI is up 75c to $54.93/Bbl, and Brent is up 3c to $60.26/Bbl.
Natural gas is down 2.8c to $2.605/MMBtu.
Oil & gas prices - Nov 1
Oil & gas prices - Nov 1
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil & gas prices - Nov 1
Closing Prices;
WTI prompt month (DEC 19) was up $2.02 on the day, to settle at $56.20/Bbl.
NG prompt month (DEC 19) was up $0.081 on the day, to settle at $2.714/MMBtu.
All of my forecast/valuation models are based on WTI averaging $55/bbl in Q4 and $60/bbl in 2020. In the 3rd quarter, WTI averaged $56.40/bbl.
For natural gas I'm assuming $2.40/mcf for Q4 and Q1 of both years and $2.20/mcf for Q2 and Q3. The outlook for natural gas seems to be improving. I do adjust for each company's hedges and for regional price differences, which have been really bad in the Permian Basin. Eagle Ford, East Texas and Louisiana can sell into the LLS market at a nice premium to WTI.
All of the forecast models are "macro-driven" Excel spreadsheets. You can download them to your computer and change all of the production volume and commodity price assumptions at the bottom to see how it impacts earnings, cash flow and stock valuations. Each of you need to decide for yourselves where oil, gas and NGL prices are heading.
WTI prompt month (DEC 19) was up $2.02 on the day, to settle at $56.20/Bbl.
NG prompt month (DEC 19) was up $0.081 on the day, to settle at $2.714/MMBtu.
All of my forecast/valuation models are based on WTI averaging $55/bbl in Q4 and $60/bbl in 2020. In the 3rd quarter, WTI averaged $56.40/bbl.
For natural gas I'm assuming $2.40/mcf for Q4 and Q1 of both years and $2.20/mcf for Q2 and Q3. The outlook for natural gas seems to be improving. I do adjust for each company's hedges and for regional price differences, which have been really bad in the Permian Basin. Eagle Ford, East Texas and Louisiana can sell into the LLS market at a nice premium to WTI.
All of the forecast models are "macro-driven" Excel spreadsheets. You can download them to your computer and change all of the production volume and commodity price assumptions at the bottom to see how it impacts earnings, cash flow and stock valuations. Each of you need to decide for yourselves where oil, gas and NGL prices are heading.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group