Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>Chevron’s arbitration win over ExxonMobil unlocks Guyana’s Stabroek Block, a key asset underpinning its USD 53 billion Hess acquisition.</li>
<li>SLB outperformed Q2 estimates despite YoY declines and also completed its ChampionX acquisition amid regulatory challenges.</li>
<li>WTI crude found support late-week after better-than-expected economic data tempered demand fears, despite early pressure from inventory and macro concerns.</li>
</ul>


Chevron’s arbitration win over ExxonMobil unlocks Guyana’s Stabroek Block, a key asset underpinning its USD 53 billion Hess acquisition.
SLB outperformed Q2 estimates despite YoY declines and also completed its ChampionX acquisition amid regulatory challenges.
WTI crude found support late-week after better-than-expected economic data tempered demand fears, despite early pressure from inventory and macro concerns.


[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

<ul>
<li>For the week ending 27/Jun, U.S. crude inventories rose by 3.8m barrels (vs. expectations of a 3.5m barrel decline). Gasoline stockpiles rose more than expected.</li>
<li>The EIA reported a 55 Bcf storage build, while analysts forecasted a 48 Bcf increase. Storage levels are 6.2% above the five-year average but 5.6% below year-ago levels.</li>
<li>BlackRock may offload its gas pipeline stake back to Aramco, while JP Morgan cut its 12-month PT on SLB and Goldman Sachs did the same for Halliburton.</li>
</ul>


For the week ending 27/Jun, U.S. crude inventories rose by 3.8m barrels (vs. expectations of a 3.5m barrel decline). Gasoline stockpiles rose more than expected.
The EIA reported a 55 Bcf storage build, while analysts forecasted a 48 Bcf increase. Storage levels are 6.2% above the five-year average but 5.6% below year-ago levels.
BlackRock may offload its gas pipeline stake back to Aramco, while JP Morgan cut its 12-month PT on SLB and Goldman Sachs did the same for Halliburton.


[ETP 2025/27] WTI Volatile on Supply Risks; Henry Hub Slips on Softer Demand Outlook

<ul>
<li>For the week ending 20/Jun, U.S. crude inventories fell by 5.8m barrels (vs. expectations of a 1.2m barrel decline). Meanwhile, gasoline stockpiles fell more than expected.</li>
<li>The EIA reported a 96 Bcf storage build, while analysts forecasted an 88 Bcf increase. Storage levels are 6.6% above the five-year average but 6.3% below year-ago levels.</li>
<li>Shell denied reports of merger talks with BP. TD Cowen raised its price target on Exxon to USD 128, citing its technological edge in resource recovery and strategic deal-making capacity.</li>
</ul>


For the week ending 20/Jun, U.S. crude inventories fell by 5.8m barrels (vs. expectations of a 1.2m barrel decline). Meanwhile, gasoline stockpiles fell more than expected.
The EIA reported a 96 Bcf storage build, while analysts forecasted an 88 Bcf increase. Storage levels are 6.6% above the five-year average but 6.3% below year-ago levels.
Shell denied reports of merger talks with BP. TD Cowen raised its price target on Exxon to USD 128, citing its technological edge in resource recovery and strategic deal-making capacity.


[ETP 2025/26] WTI Set for Deepest Weekly Drop Since March 2023; Henry Hub Slides on Tepid Demand

<ul>
<li>For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.</li>
<li>The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.</li>
<li>Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.</li>
</ul>


For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.
The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.
Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.


[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

<ul>
<li>For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.</li>
<li>The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.</li>
<li>Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.</li>
</ul>


For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.
The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.
Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.


[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

United States

Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry.  The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

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Halliburton Co (HAL US)

[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...

Mint Finance

[ETP 2025/27] WTI Volatile on Supply Risks; Henry Hub Slips on Softer Demand Outlook

US crude inventories unexpectedly rose, gasoline stockpiles increased, natural gas storage levels are above average but below last year, BlackRock...

Mint Finance

[ETP 2025/26] WTI Set for Deepest Weekly Drop Since March 2023; Henry Hub Slides on Tepid Demand

US crude inventories fell more than expected. However, EIA reports gas storage build slightly above forecast. Shell denies merger talks with BP,...

Mint Finance

[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....

Mint Finance

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

​Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...

Mint Finance

[ETP 2025/27] WTI Volatile on Supply Risks; Henry Hub Slips on Softer Demand Outlook

​US crude inventories unexpectedly rose, gasoline stockpiles increased, natural gas storage levels are above average but below last year, BlackRock...

Mint Finance

[ETP 2025/26] WTI Set for Deepest Weekly Drop Since March 2023; Henry Hub Slides on Tepid Demand

​US crude inventories fell more than expected. However, EIA reports gas storage build slightly above forecast. Shell denies merger talks with BP,...

Mint Finance

[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

​US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....

Mint Finance

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

​US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...

US crude inventories unexpectedly rose, gasoline stockpiles increased, natural gas storage levels are above average but below last year, BlackRock...

US crude inventories fell more than expected. However, EIA reports gas storage build slightly above forecast. Shell denies merger talks with BP,...

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...