Bearish sentiment has taken hold of oil markets, with oil and gas companies having lost $1 trillion since oil began its latest slide. – The Wolfcamp has been one of the most important shale formations that has helped drive up oil and gas production in the Permian basin over the past decade. – As of September 2018, the Wolfcamp has been responsible for roughly 1 million barrels of oil production per day, as well as 4 billion cubic feet of natural gas per day (Bcf/d). – The Wolfcamp accounts for about a third of both oil and gas output in the Permian. Market Movers • EQT (NYSE: EQT) was upgraded to a Buy rating by Goldman Sachs, up from Neutral, with a $23 per share price target. EQT jumped by 2 percent on the news. • Alberta […]