Active Rigs At 64; WTI Settles Below $64 -- April 30,2019

API crude oil inventory: surprise build. Another whopping 7-million-bbl build -- the same as last week. Forecast? A build of 2 million bbls. How did Z-Man do? This was his professional research: a crude oil build of less than onemillion bbls. However, that is what he forecasts the EIA will report -- that report comes out tomorrow.


MDU earnings: misses by two cents; EPS of 21 cents; is that about a 10% miss?; revenue of $1.09 billion beats expectations by $90 million. Shares down by about half a percent.

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Active rigs:

$63.85	4/30/2019	04/30/2018	04/30/2017	04/30/2016	04/30/2015
Active Rigs	64	61	49	29	86

No new permits.

One permit renewed:

• Whiting, a Kessel permit, in Stark County.