Tuesday, November 7, 2017

The Energy And Market Page, Part 3, T+290 -- November 7, 2017

Bakken announcement: as previously "forecast," WPX reports a huge well:
  • 32600, 2,306, WPX, Ruby Parshall 31-30HZ, Antelope, 41 stages; 6.1 million lbs, t9/17; cum 42K 9/17;
Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH9-20172741626414992912751450281171874

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The markets: the Dow eked out another record setting day -- it was negative all day and then just barely went green near the close; closed up 5 points to settle at 23,553. NYSE with 167 new highs, including: Boeing (will this one ever quit going up?); Concho Resources (a favorite of Mike Filloon's); COP (whoo-hoo); Deere (again); KB Homes; McDonald's; Pembina Pipeline (in the news today); SRE (whoo-hoo).
  • new lows: 63
  • others of note: 
    • CVX: flat at $117; 52-week high is $120; pays almost 4%
    • RDS-B: a bit of profit taking, down a bit of 1% today; at $46.67; 52-week high, $67.40; pays a whopping 5.71%;
    • UNP: flat; at $117; 52-week high, $119.71; pays 2%
Railroads: increased demand for coal, sand help BNSF boost earnings.
  • revenue: $5.31 billion
  • net earnings: $1.04 billion
  • up 4.7% and 2.2% respectively compared to one year ago
  •  pace of growth slower than first two quarters of 2017
  • the resurgence of coal boosted revenue for the rail company

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