James

Extraordinary measures are continuing to slam the oil and gas markets, as more North American producers, including EQT Corp. and EOG Resources Inc., are announcing cuts to spending while oil prices — and demand — are slaughtered.

Well productivity in the Lower 48 jumped in 2018, but output last year appeared to slide, implying the decline curve may be steepening relative to years’ past, according to Raymond James & Associates Inc.

Transcontinental Gas Pipe Line Co. LLC (Transco) submitted an application to FERC Monday for a certificate of public convenience and necessity for its St. James Supply Project, which would supply natural gas to a proposed methanol plant in Louisiana.

U.S. producers may have enough cash flow this year to double the onshore rig count from current levels, Raymond James & Associates Inc. said Monday. The only thing standing in their way could be a lack of pressure pumping equipment.

The domestic oil and natural gas industry likely will see “massive” cash flow increases over the coming years, as the two-year mentality to shrink rapidly shifts back to growth.

When it comes to the recent string of negative headlines for midstream projects facing opposition and delays, Raymond James & Associates Inc. said this week it thinks market fundamentals “and straightforward economics will eventually win out.”

U.S. exploration and production (E&P) cash flow generation and oilfield spending on drilling and completions have bottomed, no matter what direction oil and natural gas pricing goes in 2017, Raymond James & Associates said Monday.

Pressure pumping attrition, brought about by financial stress on oilfield operators and equipment wear and tear likely will constrain the U.S. rig count into 2017, Raymond James & Associates said Monday.

The biggest capital spending reductions in the global oil and natural gas industry are — no surprise — led by producers whose assets are concentrated in the Lower 48 states, Raymond James & Associates Inc. said Monday.