Thursday: Jobless Claims Plummet -- August 7, 2014

Active rigs:

	8/7/2014	08/07/2013	08/07/2012	08/07/2011	08/07/2010
Active Rigs	191	181	199	184	141

RBN Energy: an update on Canadian pipelines taking Bakken crude to eastern Canadian refineries. An absolute must-read for those interested in the Bakken, and particularly, Enbridge.

Eastern Canadian refineries are importing record volumes of light US crude - 263 Mb/d in May 2014 according to the Energy Information Administration (EIA). By the end of 2014, pipeline reversals and expansions to the Enbridge network will increase the flow of light crude to eastern refineries from Western Canada and North Dakota. The result could be even more imports from the US. Today we continue our series reviewing the extent and impact of Enbridge projects to move crude east.

Reporting today:

• SRE: misses by 5 cents; shares are up strongly; guidance positive; transcript;
• BCEI: forecast 68 cents; misses by 16 cents; beats on revs;
• LINE: forecast 42 cents; before market open;
• NOG: forecast 23 cents; beats by 7 cents; raise guidance; see more here; 
• WIN: forecast 8 cents; misses by 4 cents; continues to pay 9.9% dividend; at risk? By the way, look at The New York Times article on the IRS (favorable) ruling for WIN and the REIT spin-off;