Oil Contango History









Today crude oil market made a history. View All Filters Hide All Filters. Contango is a situation where the futures price of a commodity is above the expected future spot price. So, the current contango (2. AMEX, MCF - Contango Oil & Gas Company Contango is a Houston-based, independent natural gas and oil company. The split for MCF took place on December 04, 2000. This is a pretty rare occurrence. Last year’s flip into backwardation accompanied the most dramatic plunge in crude oil prices in history. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. Contango occurs when the front month contract is cheaper than contracts dated further out. View today's stock price, news and analysis for Contango Oil & Gas Co. storage capacity is getting dangerously close to full. Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The last time the two contracts were in contango was early March 2019. April 1 (Bloomberg) -- On today's "Futures In Focus," Alix Steel reports on the meaning of Backwardation and Contango as they relate to crude oil. Mid-Con Energy Partners, LP is a publicly held Delaware limited partnership formed in July 2011 to own, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on Enhanced Oil Recovery ("EOR"). And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history. Northern Oil and Gas, Inc. Monday’s historic crash in crude oil dragged prices into negative territory for the first time in history. Backwardation and the theory of Normal Backwardation If you're seeing this message, it means we're having trouble loading external resources on our website. announced Friday it will pay $132. Since late June, it has been in severe backwardation, a situation that has not occurred since the go-go days of late 2007 / early 2008 for the oil market. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price. Granite Oil Corp. on oil prices What you need to believe Supply disruption continues USD80-90 Impact on oil prices What you need to believe Stagnation and oversupply USD50-55 Impact on oil prices Global oil demand End user demand growing at 1. 7% above the current share price. The last time the two contracts were in contango was early March 2019. As crude oil prices swooned, contango grew spectacularly, until it peaked in January 2009. Our assets are generally pipelines and related facilities acquired from major oil companies including Shell, Chevron, Exxon, Conoco Phillips, among others. To restore oil and gas production and development in the United States in fields that are not operating to their potential. Oil price in downtrend matched with contango appearance. average regular retail gasoline price was $1. In addition to blog archive access, RBN Backstage Pass™ resources. Contango Oil & Gas Co is an independent oil and natural gas company. View today's stock price, news and analysis for Contango Oil & Gas Co. A widening contango points. notable moments in oil price history with the 2008 economic crash and the future role the oil futures market has in mitigating price risk. 31 totaled 116 billion cubic feet equivalent, including 61. As oil prices have chopped sideways between around $45 to $55 per barrel, the spread in this week's chart has been creeping back upward again. and global demand for crude oil and issues involving the physical transportation and storage of crude oil at Cushing, Oklahoma, the primary pricing point for oil traded in the U. There are futures contracts for each month going out many years. History shows that when Brent flips from backwardation into contango, it tends to spend an average of 36 days in contango and tends to impact other markets like WTI, BoAML analysts noted. This is why I said one needs to understand the economics. The term structure for the February 7 Brent forward curve is approaching structural contango (Figure 2). Granite's Alberta Bakken pool, south of Lethbridge, Alberta, is a large, early life oil asset owned 100% by. Contango Oil & Gas Company insider trades are listed in the following table, followed by a table containing the full transaction history. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. 63 a barrel. (NYSE MKT: NOG) is the leading non-operator franchise in the core of the Bakken and Three Forks plays in the Williston Basin of North Dakota and Montana. 3% of global oil reserves, and 2. Motorbooks International, c1997. We repair, service, and install heating systems for your home or business. Contango is a situation where the futures price of a commodity is above the expected future spot price. Gulf Coast market compared to the price of crude oil. Black Stone Minerals, L. 5%, and the May-June timespread moved deeper into contango, indicating that traders see the physical glut worsening even with the output cuts. Trust us to keep you warm and safe 24 hours a day. Its operation focuses in Permian Basin, South Texas, Southeast Texas East Texas, Wyoming, and Gulf of Mexico. DKL's dividend yield, history, payout ratio, proprietary DARS™ rating & much more! Contango Oil & Gas Co. The Last Contango – Basis Report April 21. A contango-shaped futures curve is not a historical rarity, but the one that traders have toyed with since December was the greatest contango in history. So oil prices can move to very large conditions of contango, or to the opposite condition known as “backwardation” like we are seeing right now. The United States declared a national emergency on March 13 in response to concerns regarding. 10 and July at $27. The oil and gas company posted revenue of $37. In the present case, the reason for the oil contango is basically that investors think that prices will improve in future as economies recover. Then you add both and sell it at a price of $90 per barrel. The Finitude of Oil Source: Oil & Gas Journal Energy Statistics Sourcebook (14th Edition), EIA. Brent crude was in contango for as much as $0. 50 a barrel in trading today, up from only $1. The market craters in about 10-14 weeks when storage (both land and sea based) will be used up with current production #'s. The crude market is currently trading in what is known as contango, where forward prices are higher than immediate prices. But a pricing structure in the oil market known as contango, where current oil futures contracts are priced lower than the next month, will derail profits for any longer-term investors. 9, 2020 12:55 ET - Find a broker to begin trading MCF now Exchange:AMEX Industry: Energy View: MCF Real Time. 65 a barrel at 1210 GMT. We are engaged in the exploration and exploitation of oil and gas leasehold and minerals. is an independent oil and natural gas company, which engages in the exploration, development, production, and acquisition of crude oil and natural gas properties. Denise Dubard, CAO at Contango Oil & Gas Company (MCF), is currently unranked, see this insider's latest transactions. The huge oversupply is further collapsing the oil market's structure, and there may be more weakness to come as the world quickly runs out of storage capacity. Investors bet on the future of oil prices through a financial instrument, oil futures in which they agree on a contract basis. The pipeline's history can tell you a lot about how communities and pipelines change, and sometimes come in conflict. May’s WTI contract is at $11. watch_later. The exposure is obtained through fully funded uncollateralised swaps with Shell Trading Switzerland AG, a member of the Royal Dutch Shell Group. No symbols found that match the requirements. At 1630 GMT Wednesday, the contango between April/May was 12 cents/b, with April at $54. This was a 1 for 2 reverse split, meaning for each 2 shares of MCF owned pre-split, the shareholder now owned 1 share. The oil contango tells us demand is going to come back, hopefully in a few months. Historical daily share price chart and data for Contango Oil & Gas since 1994 adjusted for splits. NASDAQ Last Sale (NLS) Intraday Trade History: Contango Oil & Gas Company (MCF) MCF. It recovered to $0. HOUSTON (AP) _ Contango Oil & Gas Co. Oil markets typically move in cycles of backwardation and contango, following global supply/demand fundamentals. Suffice it to say, crude markets are in a state of contango at the moment as traders bet on a price rally in the future. Oil markets enter contango. Contango, also sometimes called forwardation, is a situation where the futures price (or forward price) of a commodity is higher than the spot price of the contract today. (Updates with record contango throughout) For more articles like this, please visit us at bloomberg. History Favorite. WOGCC Commissioners Pass Reduction in Conservation Tax Under Docket 1369-2020, the Wyoming Oil and Gas Conservation Commission (WOGCC) voted in favor of reducing the current amount of conservation taxes assessed on oil and gas companies to. Cyclical crisis with deep issues in supply/demand in oil market as rule related with. , the disappearance of the oil glut) that crushed margins. Then you add both and sell it at a price of $90 per barrel. Because the oil markets are in contango (future prices are higher than spot prices), many companies are storing oil. Oil traders struggling to navigate one of the biggest oil crashes in history say the worst is yet to come. Contango Oil & Gas is not owned by hedge funds. When investing in an oil or gas ETF, contango and backwardation are two of the most important terms to understand. 2018 is gone and we are busy charting how the oil prices will look in 2019. But since late April, it has been in backwardation (where each subsequent maturity is at a lower price on the futures curve). Oil commodity exchange-traded funds provide a simple way to expose your investment strategy to the price and performance of oil, without actually owning any oil itself. (“Contango”), a Delaware corporation headquartered in Houston, Texas, is an independent natural gas and oil company that focuses primarily on properties in the Gulf of Mexico. Contango is your enemy with USO right now. 5%, and the May-June timespread moved deeper into contango, indicating that traders see the physical glut worsening even with the output cuts. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Crude Oil Production. 32 per share. What price target have analysts set for MCF? 2 brokers have issued twelve-month price targets for Contango Oil & Gas' shares. I'm not a big bull for Oil, but Oil is low enough to be an interesting market this year for trading both long and short. The contango is greater than during the financial. and Senior Vice President, Investments of Goff Focused Strategies LLC, an exempt reporting advisor Contango Oil & Gas | Houston, Texas Contango Oil & Gas | Houston. The chart says us that most of the historical contango is from -0. The United States declared a national emergency on March 13 in response to concerns regarding. Phone: 713-236-7400 Fax: 713-236-4424. This is the historical insider ownership of Contango Oil & Gas Co. Contango will *****you long term. Plot the historical data regarding WTI Futures Curves by clicking " Historical Futures Curve Data ". Crimson Midstream LLC is a provider of crude oil transportation and storage services in California, Louisiana, and offshore Gulf of Mexico. Houston TX, 77002. The latest Contango Oil & Gas Co Common Stock USD0. This is called contango. 5 MMb/d End user demand grows at 1. Oil futures forward curves • ir. Contango is the acquiring company in the Merger. I went long oil with intention to hold for long term, because I see price in 2 years or sooner to raise back to 50$. The oil contango tells us demand is going to come back, hopefully in a few months. Losses, adjusted for asset impairment costs, came to 13 cents per share. Also when oil is in backwardation the rollover makes money. In 1993, the German company Metallgesellschaft famously. Backwardation and Contango are used to define the shape and structure of a. Contango extraordinaire in the face of a storage crisis. Contango Oil & Gas Company has onshore operations in the Gulf of Mexico in water-depths of less than 300 feet. The exposure is obtained through fully funded uncollateralised swaps with Shell Trading Switzerland AG, a member of the Royal Dutch Shell Group. HOUSTON, March 12, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American:MCF) ("Contango" or the "Company"), as a result of the decline in commodity prices in the last several days, and especially oil prices, today provides a brief update on its response to that decline. 717 Texas Avenue, Suite 2900. is changing the dynamic in what the International Energy Agency (IEA) calls the worst oil shock in history. 23, creating a 9-cent per barrel contango. AMEX:MCF Income Statement, February 5th 2020. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. By 2050, oil prices will be $107. It sounds like a variant of a famous and complex Latin dance, but Contango is actually a financial phenomenon involving the trading of futures-based commodities. View Contango Oil & Gas' earnings history. SINGAPORE/LONDON (Reuters) - The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as. 5 MMb/d End user demand grows at 1. Then you add both and sell it at a price of $90 per barrel. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding. Baytex Energy Corp. 16 to the futures contracts 12 months ahead. The closely watched Baker Hughes oil-rig report showed that as of Friday, oil-rig counts in the US were 544, down roughly 35% from the same time in March. Main View Technical Performance Custom. com Proactiveinvestors USA & Canada Proactive Group RSS feed en Mon, 17 Feb 2020 07:01:09 -0500 http://blogs. The reason I am considering taking my oil profits to the sideline for a while is solely based on the risk of a storage crisis which could spark a panic sell off that in a single month can create a truly massive contango, wiping out 20%, 30%, 50% of the value of an oil ETF or certificate. This page provides values for Crude Oil Production reported in several countries part of Asia. The energy complex on Wednesday closed lower as crude prices retreated from 2-1/2 week highs on concern an economic recovery from the coronavirus pandemic. average gasoline price increased slightly to $1. Contango Oil and Gas (MCF) stock price, charts, trades & the US's most popular discussion forums. By 2030, world demand will drive oil prices to $92. Oil Market Shifts From Contango to Backwardation: Implications for Investors. In this episode, we examine the recent market conditions across stocks, commodities and currencies. the six-month contango on the. 7400 Fax: 713. This Bloomberg article paints a good picture of the current…. ASX futures were down 36 points or -0. 25/04/2020 16:37:03 Cookie Policy +44 (0) 203 8794 460 Free Membership Login. Contango's headquarters is located in Houston, Texas, USA 77002. In recent weeks Brent crude oil, the global oil benchmark, has shifted into backwardation - a state when spot prices are higher than prices for futures contracts, creating a downward-sloping curve for futures prices (see chart). There are 100s of upstream and downstream oil and gas companies based in the United States varying from large international players such as ExxonMobil and Chevron Corp. The firm engages in the exploration, development, production and acquisition of crude oil and natural gas properties. With demand at near-paralysis, oil and fuel tanks around the world are close to brimming — a stark evidence of the global glut and a function of the "contango" structure of the futures market. The oil-storage trade, also referred to as contango, is a market strategy in which large, often vertically-integrated oil companies purchase oil for immediate delivery and storage—when the price of oil is low— and hold it in storage until the price of oil increases. Oil prices have been downbeat for quite some time thanks to poor demand emanating from the coronavirus-led lockdowns and a price war between Saudi Arabia and Russia over the decision to… As your browser does not support javascript you won't be able to use all the features of the website. Not only is there potential for massive gains, but also for high. Most recently, he served as Principal for Goff Capital, Inc. edu/tech/rss. 88 a barrel earlier in the session between prices for May and June, the lowest level since Nov 2018. High volume (25,000 to 300,000 bbl) contractual agreements between oil companies dictating delivery of petroleum products or crude. See how a company stacks up with the competition year over year with the Comparables Time Series data. Oil futures forward curves • ir. This means that the average 10 year old VLCC could expect to do 100% of its NAV in revenue over the next 12 months, and it's pretty cheap to just park a ship at anchor. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. Volume 34,113,776. One of the most significant differences between land in the public land states and state land states is that public land was surveyed prior to being made available for purchase or homesteading, using the rectangular-survey system, otherwise known as the township-range system. Here the. The contract's six-month contango widened to US$5. The energy complex on Wednesday closed lower as crude prices retreated from 2-1/2 week highs on concern an economic recovery from the coronavirus pandemic. On the other hand, if crude oil is trading at $100 per barrel for. 7400 Fax: 713. In the chart below, the spot price is. For example, you can calculate the crack spread for RBOB gasoline sold in the U. Another unexpected surge in crude-oil inventories has the price of the front-month oil contract falling while buying continues to occur in later-dated contracts. The result was an epic contango structure in the futures curve which encouraged traders to charter tanks to store oil. Contango and oil prices. The oil contango tells us demand is going to come back, hopefully in a few months. It is the second longest stretch in history after the 36 month period from Nov. Today crude oil market made a history. Gas and Oil Trucks. The widow-making collapse in oil prices came to a pause in Asia trade on Thursday, but analysts aren’t convinced that the worst sell-off in oil market history is over yet. With the oil contango as it sits now, A vlcc could expect 48 million in revenue over the next 12 months. oil prices per barrel. For example, if the price of a crude oil contract today is $100 per barrel, but the price for delivery in six months is $110 per barrel, that market would be in contango. MCF Dividend History & Description — Contango Oil & Gas Co. May 2020 contract, which will expire tomorrow (Apr 21, 2020), traded as low as -$40. (OED) Questions: 1) Was the term really invented or was it taken from other contexts, from a local dialect or a foreign language for instance? 2) The opposite of contango is the more obvious literal term "backwardation". Gulf Coast market compared to the price of crude oil. Contango is the normal state of most markets, and it describes a situation where the price of a commodity gradually gets more expensive as one looks at more and more distant futures contracts compared to today's spot price. S&P Select Industry Indices are designed to measure the performance of narrow GICS® sub-industries. https://www. The West Texas Intermediate Light Sweet Crude Oil futures contract is cash settled against the prevailing market price for US light sweet crude. It has hedges in place for 72% of forecast 2020 natural gas production at $2. 005 cent per gallon. However, much like options, the futures price is not always exactly the same as there's a little bit of time premium equivalent (based on anticipation of changes in future oil prices). average gasoline price increased slightly to $1. Discover historical prices for MCF stock on Yahoo Finance. Oil prices have been downbeat for quite some time thanks to poor demand emanating from the coronavirus-led lockdowns and a price war between Saudi Arabia and Russia over the decision to… As your browser does not support javascript you won't be able to use all the features of the website. That is pretty savage contango!. 2008 - Oct. org are unblocked. crude oil) and hydrocarbons in a gaseous form (e. With oil for May delivery trading at a steep discount to future months — a structure known as contango — more firms are hoarding barrels rather than sell at a loss. Oil futures are in contango through most of its history because of huge storage costs. This page provides values for Crude Oil Production reported in several countries part of Asia. Vendor 1099 Information. Contango and. 05 on April 3, when hopes for the forthcoming. Gulf Coast market compared to the price of crude oil. 4 billion cubic feet. Contango Oil and Gas (MCF) stock price, charts, trades & the US's most popular discussion forums. Executive Summary. The foundation of the Company's success is the…. Limited storag. Free forex prices, toplists, indices and lots more. Metals: January and February have historically been very strong months for precious metals. So oil prices can move to very large conditions of contango, or to the opposite condition known as “backwardation” like we are seeing right now. Oil market narrative has shifted radically since start of year Cyclical economic recovery → coronavirus threat → volume war → economic lockdown Early Jan (Brent at almost $70) U. SINGAPORE/LONDON (Reuters) - The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as. Wednesday, December 20, 2017. The OPEC+ agreement to slash production by 9. Crude oil is $50 per barrel now (7 th Oct) and the price of the futures contract is $55 per barrel (31 st Oct)Here the future price is higher than the current spot hence Contango. 32 USD a barrel - a 321% drop. Management Team - Wilkie S. For instance, if oil per barrel costs about $ 70 today, you calculate the expense incurred in storage-about $20 per barrel. Also when oil is in backwardation the rollover makes money. Founded in 1919, TXOGA is the oldest and largest group in the State representing petroleum interests and continues to serve as the only organization which embraces all. View Contango Oil & Gas' earnings history. 'On the other hand, oil has been in contango for most of the last year but the price has been in a gradual uptrend. Get the latest Detailed Estimate from Zacks Investment Research. The oil market has flipped into what the industry calls a contango: spot prices are lower than forward prices. Their forecasts range from $1. History The CEO, Ken Peak, took his life savings of $400k and started the company, which was traded on the OTCBB. The company reported ($0. Skilled in Petroleum, Petrophysics, Geology, Reservoir Management, and Formation Evaluation. January 20, 2020. In general, it is generally illegal for insiders to make trades in their companies based on specific, non-public information. Northern Oil and Gas, Inc. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price. 27 it has entered into an asset purchase agreement to acquire the assets of White Star Petroleum LLC and certain affiliates as a part of the White Star Chapter 11 bankruptcy, 363 sales process. Free forex prices, toplists, indices and lots more. But it was in 2007 through 2009 that the oil storage trade expanded. Contango Oil & Gas Company said Sept. May 2020 contract, which will expire tomorrow (Apr 21, 2020), traded as low as -$40. But the profitability of the contango trade was so huge it actually paid to charter tankers explicitly just for the purpose of storing oil. Find the latest Contango Oil & Gas Company (MCF) stock quote, history, news and other vital information to help you with your stock trading and investing. At 1630 GMT Wednesday, the contango between April/May was 12 cents/b, with April at $54. 14, May Nymex crude settled at $52. •‘Peakists’ are often dismissed despite Hubbert having made one of the best long term forecasts in history. A contango (the opposite of backwardation) manifests whenever the price of. 81m bbl/day, according to the EIA. An equally important component of the performance of any Oil ETF which aims to track futures prices, though, is the impact of contango, which I provide more detail on below. We repair, service, and install heating systems for your home or business. Contango is a condition in a commodity market where the futures price for the commodity is higher than the current spot price. announced Friday it will pay $132. This monetization process more complex and it combined with gathering of futures premiums in two directions of trade either long or short (Natural gas trading only sell side or out of positions due to huge skew in negative rolling yield that makes any long position as speculative and it is not matched. With that, previous Oil price contango extremes have marked major bottoms. Contango Oil and Gas (MCF) has 1 split in our MCF split history database. A widening contango points. Oil Market Shifts From Contango to Backwardation: Implications for Investors. Contango, Shut-Ins Some traders point to prices falling deep enough that physical players start buying oil to store it — a common practice known as the contango trade — leading to a natural. Accordingly, WTI did something it’s never done before. S&P Select Industry Indices are designed to measure the performance of narrow GICS® sub-industries. Here we explain in layman's terms what these terms mean. This is called contango. 37 per barrel while June holds at $22. Current contango in oil markets with futures prices much greater than spot. This website has been prepared by Contango Asset Management Limited (CGA) ACN 080 277 998 on behalf of its fully owned subsidiaries; Switzer Asset Management Limited (SAML) ACN 123 611 978, AFSL 312247, Contango International Management Limited (CIM) ACN 617 319 123, CAR No. The US 2019-20 heating season, which ran from Nov. Led by a highly skilled management team with over 100 years’ combined experience in the onshore oil and gas industry, Magnolia has interests in over 154. Get MCF Alerts *Delayed - data as of Mar. This means that oil ETFs like DBO, USO or USL have underperformed oil spot prices by a wide margin. More than $10 trillion has been erased from the market value of equities so far this month, accounting for about one-third of the total value wiped off stocks this year. HOUSTON, March 12, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) ("Contango" or the "Company"), as a result of the decline in commodity prices in the last. In a contango market, prices in the short term are lower than in future months, which encourages traders to store oil for sales in the future at a higher price. For example, contango would be present if May Light Crude (^CLK15) was priced below October Light Crude (^CLK15). By: Nadeem_Walayat As crude rallies to. Ships are being loaded and put to sea stuffed with oil that is sold months out into the futures. Contango and oil prices. The Oil Storage contango was introduced to the market in early 1990 by the Swedish-based oil storage company Scandinavian Tank Storage AB and its founder Lars Valentin Jacobsson by using huge military storage installations to bring down the "calculation" cost of storage to create a contango situation out of a "flat" market. Get the latest Detailed Estimate from Zacks Investment Research. To begin the lecture, Professor Shiller elaborates on the difference between forwards and futures and on the role of futures markets to infer future prices for the underlying commodity or financial asset. 27 it has entered into an asset purchase agreement to acquire the assets of White Star Petroleum LLC and certain affiliates as a part of the White Star Chapter 11 bankruptcy, 363 sales process. ; MARPOL and adds up to 1 MMb/d of demand. Front month future expires in 11 days and a few days back contango was 4$, then 5$, now it is already 6$. Oil ETFs consist of either oil company stocks or futures and derivative contracts that track the price of oil, or in some cases oil-related indexes. Its proved reserves on Dec. , led to unusually high inventories of crude oil. So much so, traders became desperate to unload their contracts. On average, they anticipate Contango Oil & Gas' share price to reach $1. 12 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 9. “traders are buying the cargoes to store them. Oil market narrative has shifted radically since start of year Cyclical economic recovery → coronavirus threat → volume war → economic lockdown Early Jan (Brent at almost $70) U. Upcoming event on CONTANGO OIL & GAS COMPANY. ; The Contango Oil & Gas 52-week high stock price is 4. Contango Oil and Gas (MCF) stock price, charts, trades & the US's most popular discussion forums. The Houston-based company said it had a loss of $1. Dire predictions of single-digit oil prices may have to wait as China, and the U. Play At Ferguson. It acknowledges, however, that increased North American unconventional oil production created the global over-supply that caused oil prices to collapse. 03/b on July 22. The current contango is indicated by the vertical line. Last update 04/13/2020. Contango and oil prices. This monetization process more complex and it combined with gathering of futures premiums in two directions of trade either long or short (Natural gas trading only sell side or out of positions due to huge skew in negative rolling yield that makes any long position as speculative and it is not matched. The contango time spread suggests the market believes there is plenty of oil around and no need to scramble for supplies. Insiders are officers, directors, or significant investors in a company. 38 per share at the end of the most recent trading day (a 24. With a history in the making, crude oil futures plummeted below zero for the first time in history, trading deep into negative territory as of 2:30 pm EST, as the worsening economic fallout caused. Contango Oil & Gas Company (NASDAQ:MCF) issued its quarterly earnings data on Monday, March, 30th. Crude oil is $50 per barrel now (7 th Oct) and the price of the futures contract is $55 per barrel (31 st Oct)Here the future price is higher than the current spot hence Contango. Given the history of the past 2 years, oil. The firm engages in the exploration, development, production and acquisition of crude oil and natural gas properties. View Contango Oil & Gas Company's fair value, stock price, financial statements, news, valuation models, fundamental charts, margin of safety, and more. Oil futures forward curves • ir. While the deal is expected to close before the end of this year, Contango officials said it has an effective date of July 1. , the disappearance of the oil glut) that crushed margins. Contango Oil & Gas Company (MCF) full year performance was -51. Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming in the United States. West Texas Intermediate futures in New York declined 7. By: Nadeem_Walayat As crude rallies to. is an oil and natural gas company. Australis Oil & Gas (Company) is an oil and gas company formed by the founder and executives of Aurora Oil & Gas Limited (Aurora), which was sold in June 2014 for an enterprise value of A$2. The dynamics of the crude oil forward curve can have implications on oil storage MLPs (AMLP). 1% of current production, and is planning to double production to 4 billion BOE a day by 2016 (that’s “barrels of oil equivalent,” a good amount of it is actually natural gas, though nat. average regular retail gasoline price was $1. A history in pictures and captions of the development of the tank truck, its equipment and features. is changing the dynamic in what the International Energy Agency (IEA) calls the worst oil shock in history. 717 Texas Avenue, Suite 2900. It operates offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas Gulf Coast and Rocky Mountain region of the United States. This monetization process more complex and it combined with gathering of futures premiums in two directions of trade either long or short (Natural gas trading only sell side or out of positions due to huge skew in negative rolling yield that makes any long position as speculative and it is not matched. For example, when oil prices hit bottom in late 2008 and early 2009, the market was in a steep contango (or super-contango) with spreads between some of the monthly contracts exceeding $1. This is why I'm initiating coverage of Oil. 07% May 8th, 2020, 19:43 - PMZ (Length: 5002). Crude oil is $55 per barrel and the price of the futures contract is $50 per barrel (31 st Oct). Form 1099 Information. The last time the two contracts were in contango was early March 2019. By: Nadeem_Walayat As crude rallies to. is an oil and natural gas company. US crude oil output fell this week, but our oil imports were the highest since early April, and with a major refinery idled, that unexpectedly led to the largest increase in our inventories of oil in storage in 4 months, precipitating yet a further crash in the price of oilUS field production of crude oil fell for the third week in a row in. Real-Estate Mogul Is Behind Hottest Stock in the Oil Patch The Wall Street Journal Interactive Edition. 7 Commodities in Contango and Backwardation | Attain Capital Managed Futures Blog. "Things have changed since the oil glut and wide contango started to dominate the markets," said Burak Cetinok, head of research at Arrow Shipbroking Group in London. For instance, if oil per barrel costs about $ 70 today, you calculate the expense incurred in storage-about $20 per barrel. Contango and backwardation are terms used to define the structure of the forward curve. So much so, traders became desperate to unload their contracts. 32 per share. Monday’s historic crash in crude oil dragged prices into negative territory for the first time in history. Certain estimates of proved oil and gas reserves for Contango incorporated by reference herein were based in part upon reports by Netherland, Sewell & Associates, Inc. But there's more to investing in this commodity than the spot price, warns Morningstar analyst Kenneth Lamont. The Greek-controlled fleet is at almost 90 million gross tons. The most significant development was the medical leave of absence and subsequent death of Kenneth R. Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. ] And essentially, the future price of oil is now higher than what oil is worth today. Therramus's forecasts early last year at Oil-Price. High volume (25,000 to 300,000 bbl) contractual agreements between oil companies dictating delivery of petroleum products or crude. Black Stone Minerals, L. 20549 Attn: Anne Parker Nguyen, Branch Chief Dear Ms. Gulf Coast market compared to the price of crude oil. A market is said to be in Contango (also known as forwardation) when the spot price is way lower than the forward price of a futures contract whereas a market is said to be in Backwardation when the spot price is higher than the forward price of the futures contract. The Finitude of Oil Source: Oil & Gas Journal Energy Statistics Sourcebook (14th Edition), EIA. Oil markets only recently entered a phase of contango, and spent much of the time between 2011 and 2014 in backwardation, with current prices higher than spot prices. View today's stock price, news and analysis for Contango Oil & Gas Co. Ships are being loaded and put to sea stuffed with oil that is sold months out into the futures. Worldwide crude oil prices will average $33 a barrel for 2020 and $46/b in 2021. 333-189302 Form 10-K for Fiscal Year Ended June 30, 2012 Filed August 29, 2012 Form 10-Q for Fiscal Quarter Ended March 31, 2013 Filed May 10, 2013 File No. The Company?s core business is to explore, develop, produce and acquire natural gas and oil properties primarily offshore in the Gulf of Mexico and in the Arkansas Fayetteville Shale. , the disappearance of the oil glut) that crushed margins. I am sure everyone is aware about the events of early last week in regards to the prices of oil futures contracts dropping below zero. WOGCC Commissioners Pass Reduction in Conservation Tax Under Docket 1369-2020, the Wyoming Oil and Gas Conservation Commission (WOGCC) voted in favor of reducing the current amount of conservation taxes assessed on oil and gas companies to. 72, and Jun RBOB gasoline (RBM20) closed down -0. The shape of things to come: crude oil futures, the curve and contango. Oil & Gas Mergers and Acquisitions Report—Yearend 2018 Unrealie potential 2 A tale of two buildups The United States delivered on the unexpected promise it had been showing over the past few years to become the world’s leading oil and gas producer as its crude oil production rose to 11. higgest backwardation were when crude oil hit 147 in July 2008and highest contango was in last quarter of 2008 because all tanks were totally full. Peak, the company’s founder and longtime Chairman and CEO. 12 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 9. 28 a barrel after earlier dropping. It sounds like a variant of a famous and complex Latin dance, but Contango is actually a financial phenomenon involving the trading of futures-based commodities. is an independent oil and natural gas company, which engages in the exploration, development, production and acquisition of crude oil and natural gas properties. One of the original strategies was to focus on oil and gas exploration as it is an area where a lot of value can be created. Home Homepage Membership Levels Membership Data Coverage Complete Stock List Founder's Message The book Value Investing Forum Podcast Free Trial. Contango Oil & Gas market cap as of May 04, 2020 is $0. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. Our assets are generally pipelines and related facilities acquired from major oil companies including Shell, Chevron, Exxon, Conoco Phillips, among others. They could. Colyer, Jr - President and CEOMr. Contango Oil & Gas Co. Here the. 32 per share. View Contango Oil & Gas' earnings history. But it is more reflective of current conditions than predictive. This means that the average 10 year old VLCC could expect to do 100% of its NAV in revenue over the next 12 months, and it's pretty cheap to just park a ship at anchor. 50/b) at the start of the week and closer to $50,000-$60,000/d ($4. 960 HOUSTON, TX 77098 TEL (713) 960-1901 FAX (713) 960-1065 July 24, 2013 VIA EDGAR U. Contango Oil and Gas (MCF) share price, charts, trades & the UK's most popular discussion forums. As crude oil prices swooned, contango grew spectacularly, until it peaked in January 2009. S&P versus BGB, Blackstone / GSO Strategic Credit Fund, continues diverging. For the first time since September, the front-month Brent futures curve has flipped into contango suggesting notable physical supply being added (driving the front-month below the curve) - a sure sign of an oversupplied market. may allow U. Reports and Filings. Since then, the 3-month contango has ballooned to a whopping $7. (OED) Questions: 1) Was the term really invented or was it taken from other contexts, from a local dialect or a foreign language for instance? 2) The opposite of contango is the more obvious literal term "backwardation". Big energy traders are now scrambling to charter vessels to store oil and take advantage of a market structure called “contango”, whereby future oil supplies are more expensive than those for. In general, it is generally illegal for insiders to make trades in their companies based on specific, non-public information. A widening contango points. From Bloomberg, comes this chart showing the history of contango in crude oil. For example, from June thru January, the monthly “carry” for propane is about. Barron's also provides information on historical stock ratings, target prices, company earnings, market valuation and. 63 a barrel. Contango Oil & Gas Company (NASDAQ:MCF) issued its quarterly earnings data on Monday, March, 30th. 85 a barrel, the widest. Oil Settles in Negative Territory for First Time Ever By NinjaTrader | April 21, 2020. com Tel: +31-(0)76-7676 325 • Managing Director @ PJK International B. As recently as January 31, Brent was in steep prompt-month backwardation ($1. new record for oil and gasoline stores, a record drop in the US rig count, global rigs for January, et al it seems we set a number of records, but the principle of the the contango trade is the same: buy oil cheap, store it, and sell it at a profit in the future. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding. Contango Oil & Gas is not owned by hedge funds. Our Story Learn about Basin's history and. By: Nadeem_Walayat As crude rallies to. Last year's flip into backwardation accompanied the most dramatic plunge in crude oil prices in history. 1254169 and Contango Funds Management Limited (CFML) ACN 085 487 421, collectively referred to as the 'Contango Group'. Discover historical prices for MCF stock on Yahoo Finance. At 1630 GMT Wednesday, the contango between April/May was 12 cents/b, with April at $54. The last time a super contango appeared on the market was during the previous glut of 2015. ] And essentially, the future price of oil is now higher than what oil is worth today. Plot the historical data regarding WTI Futures Curves by clicking " Historical Futures Curve Data ". Experienced Senior Geologist with a demonstrated history of working in the oil & energy industry. 1% of current production, and is planning to double production to 4 billion BOE a day by 2016 (that’s “barrels of oil equivalent,” a good amount of it is actually natural gas, though nat. In a contango market, prices in the short term are lower than in future months, which encourages traders to store oil for sales in the future at a higher price. For example, you can calculate the crack spread for RBOB gasoline sold in the U. Given the history of the past 2 years, oil. 586/2 Contango, a technical term in use among the sharebrokers of Liverpool. When a market is in contango, longer-dated futures contracts are higher than shorter-dated contracts. Dividend Yield and Dividend History Highlights NBL's average cash flow over the past 5. " (Yup, there are lots of superlatives. 95 in the next year. Which company executives are buying and selling shares of Contango Oil & Gas (NYSEAMERICAN:MCF) stock? View the most recent insider trading activity for MCF stock at MarketBeat. On February 12, 2009, one of the lowest points in crude oil during the past decade, the March 2009 future traded at $33. If you listen to financial experts and commodity traders discuss market conditions, chances are you have heard them refer to commodity markets like silver, platinum, palladium, oil, or gold as being in either contango or backwardation. Monday, August 19, 2019. 7400 Fax: 713. UPDATED: The Oil Market's Historic Swing to Continuous Contango--Has Peak Oil "Tipped"? Posted by jeffvail on May 20, 2008 - 7:30pm To the greatest extent in the history of oil futures trading, oil prices are now in continuous contango--that is, oil futures get progressively more expensive each year into the future. 08% (the bright column is the zero). Essentially, this means that producers are paying buyers to take it off their hands as global storage space for oil is full and demand has dried up due to the coronavirus. Northern Oil and Gas, Inc. So oil prices can move to very large conditions of contango, or to the opposite condition known as “backwardation” like we are seeing right now. So oil prices can move to very large conditions of contango, or to the opposite condition known as "backwardation" like we are seeing right now. Therramus's forecasts early last year at Oil-Price. , right down to small, single-play, domestic focused companies. 85 a barrel, the biggest discount. (OED) Questions: 1) Was the term really invented or was it taken from other contexts, from a local dialect or a foreign language for instance? 2) The opposite of contango is the more obvious literal term "backwardation". Contango Oil and Gas (MCF) has 1 split in our MCF split history database. I n recent weeks Brent crude oil, the global oil benchmark, has shifted into backwardation - a state when spot prices are higher than prices for futures contracts, creating a downward-sloping curve for futures prices (see chart). “traders are buying the cargoes to store them. may allow U. One of the original strategies was to focus on oil and gas exploration as it is an area where a lot of value can be created. 51m bbl/day, well ahead of Saudi Arabia, the second largest producer with 11. Mid-Con Energy Partners, LP is a publicly held Delaware limited partnership formed in July 2011 to own, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on Enhanced Oil Recovery ("EOR"). Peak on August 7, 1986. The chart shows the price from 1 month (M1) to 80 months (M80) in the future. The contango in many commodity markets in September 2015 pointed to a combination of ample supplies and lower demand. The WTI Futures Curve is a contractual agreement for the price of oil at a specific date in the future. "The market is oversupplied in April to the tune of 25 million. When you hear oil prices quoted, you probably hear the nearest futures market. Suffice it to say, crude markets are in a state of contango at the moment as traders bet on a price rally in the future. Insiders are officers, directors, or significant investors in a company. While oil may be appealing, USO often suffers from severe contango making the product more appropriate for short-term traders. Contango is a situation where the futures price of a commodity is above the expected future spot price. Contango in the oil market On 20 April, the price for a barrel of WTI crude oil futures contract expiring in May plunged to -40. The contango spread between May and November Brent crude futures reached its widest ever at $13. Crude oil is now into a 25 month stretch of contango with 11 months since the bottom (using Dec. 9, 2020 12:55 ET - Find a broker to begin trading MCF now Exchange:AMEX Industry: Energy View: MCF Real Time. Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming in the United States. Since OPEC’s historic deal, the contango structure in the oil market has been flattening. Get MCF Alerts *Delayed - data as of Mar. 4 million in its fourth quarter. Real-Estate Mogul Is Behind Hottest Stock in the Oil Patch The Wall Street Journal Interactive Edition. Back to Top. 04 share price. The contango in the oil price may trade like an option. Palladium was the big. 48 crude oil production (12mth percent change) (r-axis) 2011 2013 2015 2017 Sources: FAA, Baker Hughes. The Great Oil Contango of 2008-2009 resulted in a sweeping trend of seaborne oil-storage world-wide and presented one of the largest and most tempting targets for terrorist and other actors to strike and prolong what was already an. 'On the other hand, oil has been in contango for most of the last year but the price has been in a gradual uptrend. During parts of 2009, the level of contango was unusually steep as a combination of slack U. When nearby oil traded at the $35 level, there was enough of a spread between nearby and deferred deliveries to allow a 40% net return for a three. This website has been prepared by Contango Asset Management Limited (CGA) ACN 080 277 998 on behalf of its fully owned subsidiaries; Switzer Asset Management Limited (SAML) ACN 123 611 978, AFSL 312247, Contango International Management Limited (CIM) ACN 617 319 123, CAR No. Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow. Also, talk that the U. Play At Ferguson. Houston TX, 77002. No symbols found that match the requirements. Insiders are officers, directors, or significant investors in a company. 50/b) mid-week, as major oil companies and. Contango refers to a situation where the future spot price is below the current price , and. What can history tell us, if anything, about the likely move in equities, based on the price action in the oil contango? Charts 4 & 5 below shows the Oil Contango (blue) and the Dow Jones Industrial Average (orange) during the GFC, and thus far in the Covid-19 crisis, respectively. Oil markets only recently entered a phase of contango, and spent much of the time between 2011 and 2014 in backwardation, with current prices higher than spot prices. The phase is called a contango, and it changes how oil companies drill and sell oil in order to boost profits. Contango Oil & Gas Company is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development, exploitation and production of crude oil and natural gas offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas and Rocky Mountain regions of the. The oil market yesterday was by far the short-dated WTI crude oil futures contracts dropped into negative territory for the first time in history. Phone: 713-236-7400 Fax: 713-236-4424. Our Story Learn about Basin's history and. Contango Oil & Gas's (MCF, $4. Learn more about our Oil 101 community. We repair, service, and install heating systems for your home or business. Conversely, higher prices for delivery dates further in the future are said to be in contango. Borr Drilling Limited. June contract and forward still managed to trade above $20, with the contango structure, it surely manifested… Read more. 50/b) mid-week, as major oil companies and. 61 % change compared to the prior day closing price) with a volume of 3. January 20, 2020. The bimonthly spread reached $8 at one point. But it is more reflective of current conditions than predictive. It is engaged in the exploration, development, exploitation, and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico and Rocky Mountain regions of the United States. 92/b and May at $55. The crude market is currently trading in what is known as contango, where forward prices are higher than immediate prices. That sharp drop in 2014-15 took oil futures back to a strong contango condition in early 2015, marking a preliminary bottom, and then again in early 2016 which marked a more permanent one. View recent trades and share price information for Contango Oil & Gas Co Common Stock USD0. Insofar as evidence is concerned, the report points to the the current contango in the energy market and the co-existence of historically high prices and high inventories as a smoking gun that proves that energy prices have become unmoored from fundamentals, and are instead driven by speculation. Their forecasts range from $1. 31%) is definitely extreme, and therefore, my idea is to sell the spread. Contango Oil & Gas Company is an independent natural gas and oil company focused on exploration, development, and production of resources primarily in shallow waters of the Gulf of Mexico. 7 million barrels a day starting in May amounts to the largest coordinated cut in history, but is still dwarfed by the much greater decline in oil consumption. Contango Oil & Gas is not owned by hedge funds. 84) is pulled down to the spot price ( $11) or whether there will be more of a merger over the next month…. NASDAQ Last Sale (NLS) Intraday Trade History: Contango Oil & Gas Company (MCF) MCF. This is called contango. The chart shows the price from 1 month (M1) to 80 months (M80) in the future. The current steep backwardation on the chart above can be attributed to several factors: Recent geopolitical events, supply disruptions , and high seasonal refinery demand have driven up the price of the front month contract. The company insiders' interest are more aligned with external shareholders in this case. HOUSTON, Feb. Difference between a Contango Market and a Backwardation Market Contango market describes a situation where a commodity's price in futures is higher than the current price (Gorton & Rouwenhorst, 2006). This monetization process more complex and it combined with gathering of futures premiums in two directions of trade either long or short (Natural gas trading only sell side or out of positions due to huge skew in negative rolling yield that makes any long position as speculative and it is not matched. Contango Oil and Gas (MCF) has 1 split in our MCF split history database. Announces 2019 Year End Reserve Metrics. Given the history of the past 2 years, oil. The oil contango tells us demand is going to come back, hopefully in a few months. 57/Mcf, as well as 54% of 2021. For example, contango would be present if May Light Crude (^CLK15) was priced below October Light Crude (^CLK15). While the deal is expected to close before the end of this year, Contango officials said it has an effective date of July 1. 0000 mill levy under Wyoming Statute 30-5-116(b). oil rig count and crude production 12-month percent change (3-month running average) 30 25 20 15 10 -10 -15 -20 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 Baker Hughes U. Skilled in Petroleum, Petrophysics, Geology, Reservoir Management, and Formation Evaluation. Crimson Midstream LLC is a provider of crude oil transportation and storage services in California, Louisiana, and offshore Gulf of Mexico. View recent trades and share price information for Contango Oil & Gas Co Common Stock USD0. MCF's dividend yield, history, payout ratio, proprietary DARS™ rating & much more! Dividend. “There’s a surplus of oil, which puts pressure on the physical price of oil and drives the curve into this super contango shape,” said Arun Assumall, global head of cross-asset quantitative.