March 30, 2016

Active rigs:

	3/30/2016	03/30/2015	03/30/2014	03/30/2013	03/30/2012
Active Rigs	31	96	194	188	205

RBN Energy: CBR to California dwindles. See this post for important data points.

EIA:

U.S. production of hydrocarbon gas liquids (HGL)—a group of products including ethane, propane, butanes, and natural gasoline—is expected to increase from 3.86 million barrels per day in 2015 to 4.33 million b/d in 2017, a 12% increase, according to EIA's Short-Term Energy Outlook. HGLs are produced at both natural gas processing plants and petroleum refineries, but natural gas plants are expected to provide more than 95% of the forecast production growth. --- EIA

Boeing to cure more than 4,500 jobs. The story at The Wall Street Journal. And just yesterday, Yahoo!Finance reminded us how good the US jobs market was. These Boeing jobs being lost were high-paying jobs with great benefits.

Why I love to blog: over the last few weeks, RBN Energy has provided incredible updates on REX, and I've learned a lot from them. Had I not been blogging, I doubt I would have paid much attention to this story, over at SeekingAlpha today: Tallgrass will buy Sempra's stake in REX for $440 million:

• Tallgrass Development agrees to acquire Sempra Energy's 25% membership interest in the Rockies Express Pipeline for $440M.
• The 1,712-mile natural gas transmission pipeline extending from Wyoming and Colorado to Ohio is one of the largest natural gas pipelines in North America; Tallgrass already holds a 50% stake, a Phillips 66 subsidiary owns a 25% stake, while Sempra U.S. Gas & Power holds the remaining 25%.
• SRE also says it will permanently release the remaining uncontracted capacity that it holds on the pipeline that it had been releasing on an interim basis, resulting in a $100M-$120M charge against Q2 earnings.