Apple Suppliers Asked To Increase Shipments; SRE Misses By Three Cents; Active Rigs In The Bakken Steady -- October 30, 2017

Top NFL story of the day (a must read): link here. 

Top business news story (well actually two):

• Apple asking suppliers to increase iPhone X shipments (AAPL shares up slightly in pre-market); after market opens, AAPL shares surge, about 1.5%
• SRE misses by 3 cents (earnings) but 5.5% increase on revenue y-o-y; survives a missing-earnings bloodbath; opens slightly higher Monday morning after earnings came out

Venezuela: what happened to all those stories that Venezuela was going to default? Apparently bond payments were made by the deadline. No links. Stories everywhere. Google Venezuela bond payments.

Nice to have friends in high places: from President Trump via Twitter, not yet being reported by mainstream media:

Report out that Obama Campaign paid $972,000 to Fusion GPS. The firm also got $12,400,000 (really?) from DNC. Nobody knows who OK'd!

Yup, it's Manafort.

Twitter: I only follow a handful of Tweeters. Today, John Kemp has about 30% of the tweets; and President Trump about 60%. Five percent to ads and five percent to others, most re-tweets.

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Back to the Bakken

Active Rigs:

$53.94↓	10/30/2017	10/30/2016	10/30/2015	10/30/2014	10/30/2013
Active Rigs	53	34	70	190	182

RBN Energy: Permian gas prices get spooked as pipelines to gulf coast markets fill.

Permian natural gas production recently topped 7 Bcf/d and shows no signs of slowing its growth trajectory.

While new pipelines are expected to move additional Permian gas volumes to the Gulf Coast markets by the beginning of 2020, the current paths to those markets are full. Over time, Mexico is expected to export significant volumes directly from Waha, but current amounts are relatively small.

As a result, increasing volumes of gas are leaving the Permian on the pipelines that head west to California and north to the Midcontinent. However, the pricing in these markets is downright ghoulish compared to the Gulf Coast and Permian gas is increasingly finding itself in scary market conditions. Today, we analyze recent pricing and flow trends in the Permian natural gas market.

Permian natural gas has been a frequent subject in the RBN blogosphere in 2017. This summer we posted a four-part blog series on Waha in which we outlined our view that

Permian gas production is set to grow to almost 9 Bcf/d by the end of 2019 and create gas takeaway constraints in the process. Nothing has changed from that general view, but with a few months of time having passed, we thought we’d check in on Permian gas to see how things are playing out.