Notes From All Over, Part 1 -- Wow, Another Great Jobs Report -- Not Even Mentioned Above The Fold -- August 8, 2019

Exports: This is an interesting story out of Reuters: "over-piped" in the Permian. If that is accurate, and the tea leaves seem to suggest that story is accurate, it then seems the next chokepoints are storage at the terminals, overseas demand, and sea-going crude carriers. See this post.

Follow US crude oil and petroleum exports at this EIA site. Weekly crude oil export numbers here.

Jobless data released this morning, link here:

• prior: 215K
• prior revised: 217K
• consensus: 215K

Rig counts, Platts:

Improved efficiencies and rising well completion rates have allowed operators to increase production outlooks in second quarter guidance even as total rig counts have ebbed. New-well oil production per rig in the major basins is forecast at 715 b/d in August, up 10 b/d from 705 b/d in July, according to US Energy Information Administration data.

The greatest efficiency gains are forecast for wells in the Bakken, which is slated to edge up 15 b/d to 1,424 b/d, and in the Permian, which is expected 12 b/d higher at 684 b/d in August. Comment: Platts has active rig count at 57 for the Williston Basin.

EIA dashboards (these are still the "JULY" dashboards; August dashboards have not yet been posted):

• natural gas storage 
• EIA pdf, Bakken: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf
• EIA, pdf, Permian: https://www.eia.gov/petroleum/drilling/pdf/permian.pdf
• EIA, pdf, Eagle Ford: https://www.eia.gov/petroleum/drilling/pdf/eagleford.pdf