I've Never Seen "Whopping" Used In Mainstream Media To Report US Jobs -- January 4, 2019

Jobs: link here.

I tracked "jobs numbers" for several years. I then quit. I "understood" the methodology and the data and I got bored with the numbers. But if interested, one can start here. I provided what I called the "magic numbers" when I posted the "jobs report" the first time, and then updated it when the mainstream media moved the goalposts when Trump was elected president. Before the goalposts were moved, the magic numbers were defined by the mainstream press as:

First time claims, unemployment benefits: 400,000 (> 400,000: economic stagnation)

New jobs: 200,000 (however, now I see that the goal posts have been moved to 120,000) --  

Economists estimate the labor market needs to create about 125,000 jobs a month to keep the unemployment rate steady, though estimates vary -- Reuters.

The Magic Numbers (change with Trump administration -- see this post)

First time claims, unemployment benefits: 275,000 (> 250,000: economic stagnation)

New jobs: 150,000 (< 150,000 new jobs: economic stagnation)

Economists estimate the labor market needs to create about 125,000 jobs a month to keep the unemployment rate steady, though estimates vary -- Reuters.

By clicking on this tag, "jobs," one can see how a "whopping 312,000 jobs" compares with data points from the past.

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Back to the Bakken

Wells coming off confidential list today -- Friday, January 4, 2019:

• 33754, 1,082, Oasis, Crane Federal 5300 34-27 7B, 50 stages, 10 million lbs, Willow Creek, t7/18; cum 105K 11/18; #21903 -- see this post.
• 33664, SI/NC, MRO, Bears Arm USA 41-2H, Reunion Bay, no production data,
• 33588, 378, Oasis, Muri 5298 14-28 9T, Three Forks, 50 stages, 4 million lbs, Banks, t7/18; cum 84K 11/18;  #18651, #18980 --
  

Active rigs:

$48.32	1/4/2019	01/04/2018	01/04/2017	01/04/2016	01/04/2015
Active Rigs	64	54	40	59	171

RBN Energy: south Texas feedgas demand ramping up with Corpus Christi LNG, part 3.

Feedgas demand for U.S. LNG exports has accelerated in recent months with the addition of new liquefaction and upstream pipeline capacity. The latest export facility contributing to the winter surge in feedgas flows is Cheniere Energy’s Corpus Christi LNG (CCL) in South Texas — the first greenfield LNG export terminal in the Lower 48 and the first such terminal, greenfield or otherwise, in Texas. Train 1 has yet to be commercialized, but already it’s added 0.5 Bcf/d of gas demand to the Texas market through December. The facility sources its gas via a number of legacy interstate and Texas intrastate pipelines, many of which have undergone reversals and expansions in order to serve LNG terminals but also another competing export market: Mexico. How will CCL change gas flows in South Texas? Today, we provide an update of feedgas flows to Corpus Christi, including a closer look at the upstream pipeline routes facilitating those flows.

This is Part 3 in our blog series examining recent changes in U.S. LNG export demand and the pipeline flows feeding it — a subject we cover comprehensively on a weekly basis. First, we started with the latest on Cheniere’s Sabine Pass Liquefaction terminal (SPL) in Cameron Parish, LA, where the start-up activities for Train 5, along with the full in-service of a new feedgas route via Kinder Morgan Louisiana Pipeline’s Sabine Pass Expansion project, have boosted feedgas flows to well over 3 Bcf/d in recent weeks. Then, we shifted our focus to Dominion’s Cove Point LNG export facility in Maryland, where the in-service of two pipeline expansions — Williams/Transco’s Atlantic Sunrise and TransCanada/Columbia Gas Group’s WB Xpress — has improved supply connectivity, with daily volumes consistently near or at capacity for the first time since the single-train facility began producing LNG.