Active Rigs At 59 -- August 3, 2017

Active rigs:

$49.84↑	8/3/2017	08/03/2016	08/03/2015	08/03/2014	08/03/2013
Active Rigs	59	34	74	194	179

RBN Energy: Permian natural gas -- update.

Heavy oil: Venezuelan implosion starting to impact heavy oil? Interesting story over at Reuters. Phillips 66 noting problem.

Ten-year Treasury: 2.26%.

Shale drillers show few signs of slowing as profits expand: Bloomberg -- data points:
four of the biggest US drillers said they are not backing away from lofty production targets for 2017

• EOG, Devon, Newfield, Diamondback Eenrgy -- all outlined goals that would help push US output toward a record 10 million bopd per year
• even Pioneer Natural Resources: trimmed the top of its forecast due to delays int he Permaian, still expects to increase oil and natural gas volumes by 16%
• much more at the link

Big oil still vulnerable: European oil companies pessimistic -- Royal Dutch Shell; Total; and BP -- Bloomberg.

Foxconn considering a second Wisconsin facility; this one in Dane County, second-most populous county in Wisconsin; Madison is the Dane County seat.

ObamaCare: Molina health insurer; darling of the ObamaCare supporters; citing huge losses has exited Wisconsin and Utah; will leave at least one county in Wisconsin with no insurers. Molina will cut 1,500 jobs.Will increase rates sharply in markets Molina still serves.

Molina, a major player in Medicaid health plans and the ACA, fired Chief Executive Officer Mario Molina and Chief Financial Officer John Molina in May. The company is still searching for a permanent leader as interim CEO Joseph White, who is also the finance chief, takes action to improve results. White told investors the company failed to properly prepare for an influx of customers over the past several years fueled by the Affordable Care Act.

ObamaCare: old news, missed but worth posting -- Maryland: largest insurer in the Mid-Atlantic region CareFirst Blue Cross Blue Shield has requested a staggering 50% yoy premium increase.

More ObamaCare: Link here. Rachel Maddow will not be covering this story.

Monthly premiums for California health insurance plans sold under former President Barack Obama’s health care overhaul will rise by an average of 12.5 percent next year, officials said Tuesday.

A major insurance carrier will also stop offering the plans in most of the state, forcing about 10 percent of people insured through Covered California to buy a new plan. Anthem Blue Cross will continue offering plans only in Santa Clara County and parts of Northern California and the Central Valley.

Covered California’s announcement on 2018 pricing comes at a time of extreme uncertainty about the future of the U.S. health care system. A Republican plan to unwind key pieces of the Affordable Care Act failed in the U.S. Senate last week, but President Donald Trump has repeatedly urged lawmakers to keep working on it. Trump has threatened to end payments that insurance companies receive to keep down out-of-pocket costs for lower-income consumers.

Premiums for consumers on “silver tier” plans, the most popular, could spike even more if those subsidies are taken away, officials said.

The DEMS and three RINOs in the US Senate appear to have no problem with this.


Jobs: first time unemployment claims, pending --

• forecast: 242,810
• actual: drop of 5,000 from revision of 245,00 last week (up 1,000 on the revision)
• actual: right at 240,000

EV sales: report for July complete. Total US sales, 2016 and 2017:

	2,016	2,017	YOY Change
January	6,221	11,004	77%
February	7,763	12,375	59%
March	13,857	18,542	34%
April	10,531	13,365	27%
May	11,467	16,788	46%
June	14,863	17,182	16%
July	13,067	15,607	19%
Total to date	77,769	104,863	35%