- U.S. regular gasoline retail prices are expected to decline from an average of $2.18/gallon (gal) in August to $1.92/gal in December.
- For the year, U.S. regular gasoline retail prices are forecast to average $2.08/gal in 2016 and $2.26/gal in 2017.
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Active rigs:
9/8/2016 | 09/08/2015 | 09/08/2014 | 09/08/2013 | 09/08/2012 | |
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Active Rigs | 36 | 73 | 196 | 184 | 191 |
RBN Energy: Enable Midstream in the middle of STACK/SCOOP.
Enable Midstream Partners stands at a crossroads. It has great assets –– natural gas gathering and processing operations in the Anadarko, Arkoma, and Ark-La-Tex basins; a crude oil gathering system in the Williston Basin; and interstate/intrastate gas pipelines that ship natural gas from its gathering regions to the Texas Panhandle and Illinois.
The company also has an excellent position in gathering systems and processing plants in the prolific STACK and SCOOP plays in Oklahoma. But everything is not rosy. Earnings from STACK/SCOOP are being offset by production declines in its other areas of operation. On top of that, CenterPoint Energy, which owns 55.4% of Enable’s limited partnership units, is seeking to divest its shares, which would bring a new majority owner into the picture. In today’s blog we review our latest Spotlight analysis.Job watch: 259,000, down 4,000. Four-week moving average, 261,250, down from 263,000.
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The Market
Lunch: new highs up to 129, despite the market down 53 points. The number of new lows has not changed.
Mid-morning: market down about 30 points. Oil is solidly above $47. NYSE:
- new highs: 103 - CLR (a big whoop); EOG (a bigger whoop); Enbridge; Encana; ONEOK; Pioneer Natural Resources; Spring; WPX Energy
- new lows: 5
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Note For The Granddaughters
Fifth grade, ten years old. One of Olivia's teachers requires about three projects every week. On day 4, they start a new project. On day 3, their most recent project is scored. On day 2, they work on the project they started the day before. On day 1, they start a new project. The students are working on three projects simultaneously: in addition to creativity, the students are also taught "time management." When you have that many projects going on simultaneously, you have to prioritize what needs to be completed.
Weekly project, scored today, project task, a diorama of a North American geographic region (yes, I just noted the spelling error -- at least three adults have missed that spelling error):
Weekly project, will be scored tomorrow or Monday, project task, a self-portrait:
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