Oil Gas Prices

You want me to click what?!

Post-ICANN, pumpkin spiced everything, and with Halloween just around the corner, it’s finally starting to feel like fall here in LA! #GenXYZ, what will you be for Halloween this year?

It might be because of the much anticipated sweater weather, but we’re in the mood to give the usual #WebsiteWednesday a little twist. In fact, we won’t be featuring any websites at all!

You’d think that at .xyz, websites are our bread and butter, but we wanted to share with you one of the other most popular ways to use your awesome .xyz domain.

Kyle Busch
For those of you who follow our CEO and Founder Daniel Negari’s blog, you’re already in the know that celebrity NASCAR racer, Kyle Busch, uses kylebusch.xyz as a cool branded URL in his tweets. If you saw a tweet with kylebusch.xyz/ABC vs. bit.ly/ABC, which would you want to click more? We agree. kylebusch.xyz, hands down.

.@KyleBusch | @mmschocolate Race Advance: From Tricks to Treats at Martinsville. http://t.co/8K9ifzZ5Di pic.twitter.com/77ZJVD9K8t

— Ryan: #KBShow (@TheKBshow) October 21, 2014


The Garrigan Lyman Group (GLG)
GLG is a digital marketing agency using glg.xyz as its URL shortener. Currently, they’re promoting glg.xyz/_loveli for one of their most successful campaigns, ever

#VIDEO: Global tennis star retires. Social tribute goes viral. How to leverage #socialmedia. http://t.co/KuNvLvySGB https://t.co/GljMQ8Pb0U — Garrigan Lyman (@GarriganLyman) October 20, 2014

To honor Li Na’s retirement from the professional tennis spotlight, Babolat and GLG schemed a viral social media campaign for fans to take part in celebrating her successful career (she was ranked #2 in the entire WORLD and has two Grand Slam titles in her back pocket: the French and Australian Opens).

Through the hashtag #LoveLi, the campaign launched with a bang and received over 50 million impressions in just five days. Now, that count has grown to 67 million!

It’s still not too late to participate! Check out glg.xyz/_loveli for the deets.

Dundee Contemporary Arts (DCA)
DCA is home to two contemporary art galleries, a cinema, print studio, and a visual research center. As hosts of an ongoing calendar of events and exhibits, DCA uses dca.xyz to promote its events via Twitter, as well as on their website’s event listings to encourage sharing.

Our new Cinema Guide is now available to read online. Loads of great films are on their way! http://t.co/5Ww6RzQafG pic.twitter.com/Tg66ungtdt

— DCA (@DCAdundee) October 17, 2014

How much easier is it to share with friends and family when the link is so short and sweet? Have you noticed any .xyz domains in your social media feeds lately?

Well, #GenXYZ, that’s all we have in store for today.

Oh! ICYMI, yours truly was featured in yet another CNET article, nicely titled “From .coffee to .email to .xyz: The Web’s crazy new reality is here.” Make sure to follow us on the usual social media channels @xyz and keep tabs on all the exciting things coming up!


22 Oct 2014 | 11:18 am EDT

Oil producers cluster wells in classic push to extend boom

HOUSTON (Bloomberg) -- U.S. shale producers are cramming more wells into the juiciest spots of their oilfields in a move that may help keep the drilling boom going as prices plunge. The technique known as downspacing aims to pull more oil at less cost from each field, allowing companies to boost profit, attract more investment and arrange needed loans to continue drilling. Energy companies see closely-packed wells as their best chance to add billions more barrels of oil to U.S. production that’s already the highest in a quarter century.


22 Oct 2014 | 6:09 am EDT

Alaska oil piles up at Valdez Port as barrels wait for ride

VALDEZ, Alaska (Bloomberg) -- Stockpiles of oil from Alaska’s North Slope have surged to a five-year seasonal high as tanker maintenance slows loadings, forcing the grade to trade at a discount to U.S. crude for the first time since 2010. Inventories at the Valdez terminal, the northernmost ice-free port in North America and the loading point for Alaskan oil, have averaged 4.38 MMbbl this month, the most since October 2009, data posted on the Alaska Revenue Department’s website show. Tanker repairs have shrunk the pool of vessels available, terminal operator Alyeska Pipeline Service Co. said.


22 Oct 2014 | 4:10 am EDT

Access375 newest introduction for AccessESP

Access375 newest introduction for AccessESP HOUSTON AccessESP has unveiled its next generation rigless ESP conveyance system, Access375. This new technology builds on the benefits of AccessESP’s previous generation of rigless ESP conveyance systems. Benefits include, full bore access to the


21 Oct 2014 | 11:33 pm EDT

Logan International forms Logan Rental division

Logan International forms Logan Rental division CALGARY, Alberta  Logan International (Logan) has consolidated its tool rental operations, which were previously conducted in several of its operating units, into a single business, Logan Rentals. Initially, the group will offer fishing and


21 Oct 2014 | 10:07 pm EDT

ASCO Numatics introduces 364 series spool valve for onshore and offshore industry

ASCO Numatics introduces 364 series spool valve, onshore and offshore FLORHAM PARK, New Jersey ASCO Numatics has introduced its ASCO 364 series spool valve, for control panel applications, in the onshore and offshore oil and gas industry. The new valve


21 Oct 2014 | 9:17 pm EDT

Fortis Energy adds equipment and services in Rocky mountain and Northeastern regions

Fortis Energy adds equipment and services in Rocky mountain and Northeastern regions BLOOMFIELD HILLS, Michigan Fortis Energy Services has taken delivery of two 550 series workover rigs, specifically designed for their work in the Bakken, Utica and Marcellus shale plays,


21 Oct 2014 | 8:52 pm EDT

Noble Energy elects David L. Stover as President & CEO

HOUSTON -- Noble Energy' s Board of Directors has elected David L. Stover as President and CEO, succeeding Charles D. Davidson as CEO. Stover' s election is consistent with the management succession plan, disclosed in April of this year, when it was reported that, Davidson would be retiring on May 1, 2015.


21 Oct 2014 | 8:14 pm EDT

Industry innovations honored at 2014 World Oil Awards

HOUSTON – In its thirteenth year of honoring the upstream energy industry' s top innovators and innovations, World Oil announced the winners of its 2014 World Oil Awards during a black tie gala in Houston. This year' s honorees took home trophies in 16 categories, covering areas as diverse as drilling and data management. The evening' s Master of Ceremony was Shara Fryer, Morning News Anchor, KTRH. The ceremony began with a keynote speech from James Pappas, President of the Ultra-Deepwater Programs for RPSEA, the Research Partnership to Secure Energy for America.


21 Oct 2014 | 7:56 am EDT

Mexico to offer shallow-water licenses

Mexico, which reformed its hydrocarbon law at the end of 2013, will begin the prequalification process for shallow-water bids in the first-half of November, according to officials with Mexico’s energy department.


21 Oct 2014 | 5:40 am EDT

Petronas said to test bank interest for $12 billion LNG finance

KUALA LUMPUR, Malaysia (Bloomberg) -- Petroliam Nasional Bhd. is testing lender interest for as much as $12 billion of financing for a Canadian LNG project, according to people familiar with the matter. Malaysia’s state-owned oil company, known as Petronas, and four energy partners from China, Japan, India and Brunei, have asked bankers to indicate their willingness by the end of this week to help fund Pacific NorthWest LNG Ltd.’s proposed project in British Columbia, said the people, who asked not to be named because the process is private. The request doesn’t mean that the Petronas-led group has decided to proceed with the development, said one of the people.


21 Oct 2014 | 3:09 am EDT

Lamprell completes second Caspian Sea drilling unit

Lamprell completes second Caspian Sea drilling unit DUBAI Lamprell successfully completed construction of the second Caspian Sea jackup drilling rig, the "Mercury". Completion of this rig is another significant milestone for the Group, particularly as it has been built under


21 Oct 2014 | 2:45 am EDT

EMC launches QuickSkid solution to connect faster offshore

EMC launches QuickSkid solution to connect faster offshore HOUSTON Emerging Markets Communications (EMC) has reported a new connectivity solution, QuickSkid, which  enables faster, more reliable and flexible communications for the oil and gas industry. Rig owners, operators and service providers


20 Oct 2014 | 6:42 pm EDT

Unconventional oil, gas operators can cut costs by better managing above-ground operations

HOUSTON -- Oil and gas operators can reduce the costs of constructing, drilling and completing unconventional wells, as well as the overall time it takes to complete them, by up to 40% through better planning and management of logistics, contractors and materials, according to a new Accenture report.


20 Oct 2014 | 10:01 am EDT

U.S. accountability office calls for reexamining oil export policy, SPR

The United States’ Government Accountability Office, an independent agency that provides fiscal-related services to the U.S. Congress, has called for the Secretary of Energy to reexamine the country’s crude oil export policy and the Strategic Petroleum Reserve.


20 Oct 2014 | 7:53 am EDT

Brent trades near level seen as OPEC test; WTI rises

LONDON and NEW YORK (Bloomberg) -- Brent crude traded for a fifth day close to a level that’s prompting speculation OPEC will respond by cutting supply. West Texas Intermediate, which fell into a bear market this month, rose in New York.


20 Oct 2014 | 4:51 am EDT

Halliburton reports third-quarter profit that exceeds estimates

HOUSTON (Bloomberg) -- Halliburton Co., the largest provider of fracing services, reported third-quarter profit that beat analysts’ estimates as it boosted its dividend.


20 Oct 2014 | 4:31 am EDT

Texas roughnecks overrun the Best Western as oil rout unnoticed

Texas roughnecks overrun the best western as oil rout unnoticed DAN MURTAUGH CUERO, Texas (Bloomberg) From her little vantage point in Cuero, Texas, of the U.S. shale oil boom, Jill Potts doesn’t see anything to worry about. Yeah, she’s heard


19 Oct 2014 | 5:44 pm EDT

Oil rigs slump by most in two months after prices slide

Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012.


17 Oct 2014 | 11:02 am EDT

Shale boom helping American consumers as never before

Shale boom helping American consumers as never before

By DAN MURTAUGH and LYNN DOAN

HOUSTON (Bloomberg) -- Oil traders might see the 27% slide in global prices as a bear market. For U.S. consumers, it’s more like an early holiday gift.

The drop in crude has pulled retail gasoline down more than 50 cents a gallon from the year’s high in April. That means annual savings of $500 for the average U.S. household, which consumes about 1,000 gallons of fuel a year, according to data from the Federal Highway Administration and Energy Information Administration.

“That’s like somebody putting dollars right in your pocket,” David Hackett, the president of Stillwater Associates, an energy consultant in Irvine, California, said by phone on Oct. 14. “That sounds like Christmas presents, going out to dinner, being able to do something.”

Gasoline’s slide represents the biggest benefit that U.S. consumers have seen to date from a record boom in domestic oil production, a surge that’s contributing to a global crude glut and helping reduce international prices. U.S. gasoline is being exported at record levels for this time of year.

The average retail price fell 1.9 cents to $3.144/gal, Heathrow, Florida-based motoring group AAA said on its website. That’s down from this year’s peak of $3.696 in April and the lowest since February 2011. Futures have decreased 86 cents on the New York Mercantile Exchange over the same period, signaling there may be further declines at the pump.

Following Crude

Gasoline is following the larger drop in the oil market. Brent crude, the global benchmark, closed at $84.47/bbl October 16 on the London-based ICE Futures Europe exchange after slipping to $82.60, the lowest level since November 2010. U.S. benchmark West Texas Intermediate settled at $82.70 on the New York Mercantile Exchange, after trading below $80 for the first time since 2012.

Prices are falling with U.S. oil output at the highest level since 1985 and the Organization of Petroleum Exporting Countries producing the most in more than a year. At the same time, the Paris-based International Energy Agency lowered its estimate for global demand growth for this year and next in an Oct. 14 report.

Americans are spending about $230 million a day less on gasoline than they were on July 4, based on prices and consumption, said Michael Green, a Washington-based spokesman for AAA, the country’s biggest motoring group.

‘Free Money’

Most consumers are paying $5 to $15 less to fill their tanks than they were around the Fourth of July, according to Green. “This is free money that people can use for savings or other spending in time for holiday shopping,” he said by e-mail on Oct. 15.

On top of sliding energy prices, food costs fell 0.7% in September, driven lower by eggs, baked goods and meat, IHS Inc., an Englewood, Colorado-based consultant, said in research note on Oct. 15. Combined, the drops stand to improve the holiday season both under the Christmas tree and on the dinner table, said Michael Montgomery, a U.S. economist at IHS.

“The two most observed prices by consumers are food and energy and they play the largest role in forming consumer opinions about inflation, providing a little more room for luxuries rather than facing a squeeze from necessities,” he said in the report.

Retail sales over this holiday season, from November through December, are expected to be up 4.2% percent from last year, according to IHS. That excludes motor vehicles, gasoline and food purchases.

Holiday Season

“This holiday season -- with just about six weeks until Black Friday -- is expected to glitter in comparison to the last two years,” Chris G. Christopher Jr., director of IHS’s U.S. consumer economics group, said in a report on Oct. 15. “The recent news on the consumer front has been relatively favorable, especially as pump prices are falling.”

Black Friday, the day after the U.S. Thanksgiving holiday, marks the start of the holiday shopping season. It falls on Nov. 28 this year.

Americans’ expectations for the economy in October climbed to the highest level in almost two years. A measure tracking the economic outlook increased to 51 this month, the strongest since November 2012, from 41.5 in September, data from the Bloomberg Consumer Comfort Index showed yesterday.

Retail Sales

Retail sales slid 0.3% in September, following a 0.6% gain in August that was the biggest in four months, Commerce Department figures show.

“Reconciling consumer confidence with consumer spending continues to be a challenge,” said Jack Kleinhenz, the chief economist at the National Retail Federation in Washington, who described last month’s retail sales as “surprisingly weak.”

While spending on gasoline accounts for less than 5% of the average person’s disposable income, it has an “undue influence on consumer confidence” because of the way the fuel is sold and paid for, Christopher said Oct. 15 by phone from Lexington, Massachusetts.

“When you go over to that pump, and you squeeze that liquid into your car, you’re seeing the amount going higher and higher, and that’s an unusual way of consuming something,” Christopher said. “It’s the way we purchase it. It’s immediate. Gasoline is different from almost any other consumer item.”


17 Oct 2014 | 8:22 am EDT

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