Friday, May 26, 2017

The Energy And Market Page, T+126 -- May 26, 2017

GDP: 1Q17 -- revised to 1.2%. Better than 0.9%.

Workforce: Rigzone has an interesting article on workforce in US shale sector. Some data points:
  • after the huge layoffs in the oil sector, now that operators need them back, the workers are increasingly harder to come by
  • DUCs: between March and April, the number of DUCs increased in the US by 187
  • that's part of an increase of 529 DUCs since the beginning of the year
  • April, 2017: records the highest number of DUCs since April, 2014 -- five months before the generally accepted "beginning" of the downturn 
  • DUCs
    • April, 2017: 5,721
    • April, 2016: 5,452
    • April, 2015: 5,303
    • April, 2014: 4,063
  • analysis: it will take awhile (months, quarters, not weeks) to whittle down those DUCs) and the loss of workers during the huge layoffs will delay things
My hunch: won't amount to much of a problem in the Bakken.

For The Archives

Since I don't have BNSF to follow any more. Note: this is only the past week:

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