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AAPL: pre-market, up another $1.37.
Jobs report, December, 2019: incredibly good report. Missed expectations and October/November job data revised downward, but inside the headlines, huge, positive story.
Link here.
- unemployment among high school dropouts: lowest rate on record
- U-6: at record lows (under-employed; marginally attached ot the workforce)
- under-employment: 6.7%; lowest on record back to 1994
- average work week: 34.6 hours
- no wage inflation
- hourly wage gain of 2.9% -- first time this measure has dipped below 3% since July, 2018
- forecast: 3.1%
- actual: 2.9%
- unemployment rate unchanged at 3.5%; remains the lowest level in 50 years
Jobs report,
more at the WSJ:
- tenth straight year of payroll gains; longest stretch in 80 years of data
- labor-force participation at 63.2%
- and note this, economists wonder where all the workers are coming from to support all these job openings -- note this --
- the labor-force participation rate had slowly edged higher in recent years, but remains well below
levels before the recession, reflecting changing demographics and the
fact some Americans have given up seeking work.
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Back to the Bakken
Active rigs:
| $59.53 | 1/10/2020 | 01/10/2019 | 01/10/2018 | 01/10/2017 | 01/10/2016 |
|---|
| Active Rigs | 55 | 66 | 53 | 36 | 58 |
Only one well coming off confidential list today -- Friday, January 10, 2019: 31 for the month; 31 for the quarter; 31 for the year:
-
35021, 490, Lime Rock Resources III, Anderson 13-24-1TFH, Alger, t7/19; cum 61K 11/19;
RBN Energy:
southern California gas constraints ease.
Southern California is poised to have greater natural gas supply
flexibility this winter, buoyed by improved access to local storage and
the completion of repairs on an important inbound pipeline. Ongoing
pipeline outages and maintenance had limited flows over the past few
years, creating supply constraints that were then compounded by
restricted access to the Aliso Canyon storage field. This led to major
volatility in gas prices, which spiked as high as $39/MMBtu in July
2018. Recent repairs and regulatory changes aim to alleviate the
situation and limit the likelihood of dramatic pricing moves during the
2019-20 winter season. Today, we provide an overview of recent
developments in the SoCal gas market.
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Initial Production For The One Well
Coming Off Confidential List Today
The pad: this well is on a two-well pad; the horizontals will run north to south, parallel to two other Anderson wells (#35238 and #35239). In addition, all four of these wells (#35021, #35022, #35238, and #35239), all running north to south, intersect at 45-degree angles, three older Lime Rock wells (#18647, #24511, and #22122). The halo effect is noted in all three wells to varying degrees. There is a lot more work to be done on this drilling unit.
The well:
- 35021, 490, Lime Rock Resources III, Anderson 13-24-1TFH, Alger oil field, t7/19; cum 61K 11/19; fracked, 5/29/19 - 6/9/2019, with 12.1 million gallons of water; water accounting for about 90.9% of the total proppant based on mass; a moderate-sized frack.
| Date | Oil Runs | MCF Sold |
|---|
| 11-2019 | 15184 | 5126 |
| 10-2019 | 17320 | 7153 |
| 9-2019 | 7919 | 4164 |
| 8-2019 | 11745 | 5622 |
| 7-2019 | 7717 | 1386 |
