Six Wells Coming Off Confidential List Today; Update On Propane -- RBN Energy -- June 4, 2020

Jobless numbers, link here:

• prior: 2.123 million
• revised: 2.126 million
• consensus: 1.790 million
• actual: 1.877 million
• the headline: first time unemployment claims more than expected; that is accurate, but the actual number is pretty much in line with the consensus, considering the difficulty of these predictions now
• the market is taking it in stride; futures point to some profit-taking, but nothing particularly noteworthy; AAPL is holding; down 0.23% in pre-market trading;

Before we get to "first things first," this is very, very encouraging -- trains, planes and trucks are rebounding.

First things first: I can't remember if I reminded folks that the weekly "Focus on Fracking" update was posted earlier this week. Here's the link.

First things first: best news all week -- MSNBC Rachel Maddow's rating slide continues depsite unprecedented news cycle. Data points:

• MSNBC's most popular program: Rachel Maddow
• in sixth place including non-primetime shows such as "The Five" and "Special Report with Bret Baier" -- say what? Bret Baier?
• alarming: in key demographic of adults age 25 -54, Maddow was tied for #7 in cable new
• behind five different Fox News shows and even one program on CNN -- say what? CNN? That is a new low

First things first: cable news ratings -- link here -- May, 2020 --

• all networks saw considerable gains
• Fox News up 44% in prime time; claimed the top spot for the 221st consecutive month; at 3.44 million viewers
• MSNBC: in second place, a 16% increase. at 1.92 million viewers
• CNN: biggest increase; up 117% compared to last year, but still in third place with 1.65 million viewers
• the 25- to 54-year-old demographic:
• Fox News: up 48% to 558,000
• CNN: up 151%, to 464,000
• MSNBC: up 21%, to 293,000
• Fox News: top five most-watched programs on cable news; #1 - "Hannity"
• Tucker Carlson: let the category advertisers covet most -- the 25-to-54 demographic; averaging 700,000 viewers each night -- wow!
• Rachel Maddow was not mentioned until the very last paragraph
• more at the link 

In days:

• US crude oil supply: 41.3 days. It appears the "days of supply" maxed out at 42 days. I can't find it now, but I think I opined that the max would come in at 38 days something like that.

EIA weekly petroleum report:

• the original post;
• today's post;

Oil prices:

• Brent: $39.50
• Urals sour: $39.25
• OPEC basket, link here: $35.46

Australia: to lease space in US SPR.

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Back to the Bakken

Active rigs:

$36.76	6/4/2020	06/04/2019	06/04/2018	06/04/2017	06/04/2016
Active Rigs	12	64	61	51	25

Six wells coming off confidential list today -- Thursday, June 4, 2020: 19 for the month; 164 for the quarter, 391 for the year:

• 36470, drl/NC, Slawson, Periscope Federal 8-10-11-12H, Big Bend, no production data,
• 36457, drl/drl, BR, Glacierfill 1D, Clear Creek, no production data,
• 36456, drl/drl, BR, Glacierfill 1C Clear Creek, no production data,
• 36354, drl/NC, Slawson, Gunslinger Federal 8-12-1TFH, Sand Creek, no production data,
• 36240, drl/NC, Slawson, Periscope Federal 4 SLH, Big Bend, no production data,
• 35189, drl/drl, XTO, Hoffmann Federal 21X-6H, Siverston, no production data,

RBN Energy: a precarious position for propane markets: reading the signals.

Energy markets balance — eventually. In the midst of the turmoil we’ve experienced this year, there have been periods when it seemed like markets were going to hit the wall. But even with the historic WTI oil price glitch on April 20, the physical crude oil markets continued to function. That’s the way it is supposed to work, and it’s good news. The bad news is that figuring out how these markets are balancing in these volatile conditions can be challenging if not downright perplexing. Nowhere is that more true than the market for U.S. propane. Production is down, but so is demand. Inventories are up, and so are prices. Propane continues to be exported, even though global demand has been whacked by COVID.

In today’s blog, we explore these developments and put the spotlight on RBN’s NGL Voyager, our subscriber report and data service that we have just reformatted, upgraded and generally reconstructed to meet the information needs of today’s NGL marketplace.