Raymond

Enthusiasm among producers for an industry rebound has faded for 2016, particularly on the pricing side, but they appear “surprisingly” bullish about the natural gas price outlook for 2017, which may be in part because only 30 rigs or so are in operation in the gassy Marcellus Shale, analysts said Monday.

U.S. producers are looking past 2016, particularly on the pricing side, and they appear “surprisingly” bullish about the natural gas price outlook for 2017, which may be in part because only 30 rigs or so are in operation in the Marcellus Shale, analysts said Monday.

U.S. producers are looking past 2016, particularly on the pricing side, and they appear “surprisingly” bullish about the natural gas price outlook for 2017, which may be in part because only 30 rigs or so are in operation in the Marcellus Shale, analysts 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.

Texas lost 12 rigs and the Permian Basin saw seven depart, making them the biggest losers among states and plays in the most recent rig count. But the Permian has something going for it called the Delaware Basin.

For the oil market, the start to 2016 represents a vicious cycle fed by “apparent market misconceptions and momentum,” analysts with Raymond James & Associates Inc. said Monday. Other analysts also have chimed in, noting that oil supply has begun to tighten up, which should lead to better pricing later this year.

The impact that the number of drilled but not yet completed wells in the U.S. onshore may have on domestic production as prices rebound is going to be big, but just how big is a bit of a mystery, Raymond James & Associates Inc. analysts said Monday.

A plethora of prognosticators is suggesting that the current oil price downturn may stymie U.S. output growth for years, but onshore production is proving even more resilient than the models, Raymond James & Associates Inc. analysts said Monday.

The below-normal temperatures and deep freeze across the country led two analysts on Monday to revise upward their forecasts for U.S. natural gas prices in the first quarter.