Thursday, June 1, 2017

Jobs Blowout! Labor Market "Rip-Roaring" -- CNBC; EPA Halts Methane Rule -- June 1, 2017

DAPL: unlikely to reach full capacity (470,000 bopd) until 2018

Weekly oil data, from John Kemp via Twitter:
  • US oil production rose 62K bopd to 9.1 million bopd; that's up 531,000 bopd from the recent low of 8.6 million bopd in Sept 2016
Active rigs:

Active Rigs482780189187

RBN Energy: where refiners are allocating their 2017 CAPEX dollars.

Jobless claims: econoday --
  • forecast: 239K
  • prior: 234K
  • wow, huge miss: first time claims increase 248K, well above the forecast of 239K 
Jobs, ADP payrolls added: huge number, a blowout -- making America great again!
  • forecast: 183K
  • actual: 253K  (revised upward to 255K)
  • unemployment rate headed for 4%
  • labor market: "rip-roaring"
Deal of the month -- Rigzone: Noble Energy exits Marcellus, data points:
  • $1.9 billion
  • two deals
  • will focus on DJ Basin, Delaware Basin, and Eagle Ford 
Making America great again -- Reuters: US EPA halts methane rule for oil and gas industry, data points:
  • 90-day stay, comment period
  • environmental groups say they will block EPA move in court
Making Saudi great again -- Reuters: Saudi Aramco signs deals to build gulf's biggest shipyard, data points:
  • $5.2 billion project
  • joint venture with three companies
  • Saudi's National Shipping Co
  • UAE's engineering firm Lamprell, PLC
  • South Korea's Hyundai Heavy Industries 
  • 1.7 square mile shipyard along Saudi's east coast
  • major production to begin in 2019; full capacity by 2022

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