American Oil and Gas Reporter - January 2017 - 36
Outlook Q&A:
J. Marshall Adkins
BULLISH ON OIL
Rusty Braziel
ALL ABOUT DEMAND
36 THE AMERICAN OIL & GAS REPORTER
Editor's Note: By any measure, the downturn that
began in late 2014 will be remembered as one of the
most severe in the industry's history. But if America's independent operators have proven one thing over the
years, it is that the adage about "what doesn't kill you" is
spot on. For all the pain of the past two years, U.S. oil
and gas companies are seeking to come out the other
side stronger, more resilient, and more capable than ever.
Industry conditions do seem substantively different at
the start of 2017. In December 2015, West Texas Intermediate prices exited the year mired in the $30s and U.S.
crude oil inventories were ballooning to levels not seen
in 80 years. As 2016 closed, WTI had rallied into the
$50s and U.S. inventories-while still historically high-
were trending downward. The November election results,
followed by the decision to cut production by both members and nonmembers of the Organization of Petroleum
Exporting Countries, certainly helped buoy prices, not to
mention the spirits of operators.
As the calendar turns to a new year, it is an appropriate
time to assess the state of U.S. energy markets and look
at what the near future has in store. Is the recovery real?
Will the U.S. oil industry get back to work in 2017? Will
natural gas activity pick up?
To answer these and other questions, AOGR presented
a series of questions to J. Marshall Adkins, director of
energy research at Raymond James & Associates Inc.;
to Rusty Braziel, president and principal energy markets
consultant, RBN Energy; to Bud Brigham, chairman
and co-founder of Brigham Resources and Brigham
Minerals; and to Boyd Russell, president and chief executive officer of Energy Navigator Software.
Questions are in italics, followed by the panelist's
response.
American Oil and Gas Reporter - January 2017
Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2017
Contents
American Oil and Gas Reporter - January 2017 - 1
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American Oil and Gas Reporter - January 2017 - Contents
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