Thursday, April 26, 2018

Wow! Is This Historic Or What! -- Sixteen Months Into Trump's Presidency -- Six Months Ago Pundits Worried About Trump Taking Us To War On The Korean Peninsula -- April 26, 2018




Add Xi.

Next year, Time magazine cover -- "men of the year."

Nobel peace prize: Kim-Xi Moon. Pies.

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Flashback

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Enerplus With Permits For A 9-Well "Greek" Pad; Twelve Permits Renewed; Two DUCs Reported As Completed -- April 26, 2018

Active rigs:

$68.19→4/26/201804/26/201704/26/201604/26/201504/26/2014
Active Rigs62482684182

Nine new permits:
  • Operator: Enerplus
  • Field: Mandaree (Dunn)
  • Comments: Enerplus has permits for a 9-well "Greek" pad in SWSE 33-149-93 (Eos, Nyx, Homer, Hera, Apollo, Zeus, Athena, Metis, Boreas); see graphic below;
Twelve permits renewed:
  • Sinclair (4): two Yauch permits and two Forest USA permits, all in McKenzie County
  • XTO (3): three Kenneth permits in Williams County
  • Petro-Hunt: a CMNU permit in McKenzie County
  • White Rock: one BSMU permit in Billings County -- a Madison well, most likely
  • WPX: one Edward Goodbird permit in Dunn County
  • EOG: one LIberty LR permit in Mountrail County
One permit canceled: Fram Operating canceled a Danny Funke permit in Renville County

Two producing wells completed:
  • 33627, 1,636, Hess, BB-State-LW-151-96-3625H-1, Blue Buttes, 4 sections, t4/18; cum --
  • 33632, 1,194, Hess, BB-State-151-96-3625H-7, Blue Buttes, t4/18; cum --
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Proposed Enerplus Pad In Mandaree Oil Field


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Let The Rumors Begin -- The Timing Is Very, Very Suspicious -- April 26, 2018

Link here. Explosion rocks Wisconsin refinery.
A tank containing crude oil or asphalt exploded at a large refinery in Wisconsin on Thursday, injuring several people and causing a blast that one worker described as sounding like a sonic boom.

No fatalities have been reported, but at least five people have been taken to hospitals in Duluth, Minnesota, following the explosion at the Husky Energy oil refinery at about 10 a.m., Superior Fire Chief Steve Panger said in a statement.

Panger didn't have details about the extent of their injuries. Others were walking wounded.

A contractor who was inside the building told WDIO television that the explosion sounded like "a sonic boom" and that it happened when crews were working on shutting the plant down for repairs.

Panger said the fire was out by 11:20 a.m., although smoke could be seen rising from the plant. Panger said a small tank exploded containing either crude oil or asphalt.
A reader tells me that Enbridge "feeds" this refinery. On Monday of this week, a Minnesota administrative judge ruled that Enbridge's plan to expand its Line 3 pipeline could go forward.
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Holy Mackerel! Amazon, Huge Beat -- No Wonder It's Called "Amazon" -- Trading At All-Time High -- April 26, 2018

Disclaimer: this is not an investment site.

Starbucks meets/exceeds and yet shares are down significantly -- giving back its entire recent gain. But look at Amazon! Delivers huge profit surprise. "We've never seen companies of this size grow at this rate." Shares up 4% at the market close, and after results released after hours, Amazon up almost 7%.
  • EPS of $3.27 versus ... are you sitting down? ... $1.27
  • revenues: $51 billion; vs expectations of $49.96
  • but look at that -- revenues beat expectations -- okay -- but look at EPS -- huge jump -- much greater than revenues would suggest -- this tells me that Bezos has "huge" control of costs
A snarky note: Expedia, among the "travel" sites, did very, very badly. Shares are up, but the story is quite bad. If there's one television ad that I dislike the most: Trivago.

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Amazon HQ2

CNBC poll for Amazon HQ2 site:
  • Pittsburgh: 44%
  • Dallas: 42%
  • Denver: 4%
  • Toronto: 2% 
I can't argue with Pittsburgh -- a good choice. For fulfillment centers -- yes, Pittsburgh seems high on the list -- location, location, location. But for a headquarters -- need to be near a) the nation's movers and shakers (Washington, DC - northern Virginia area); and, b) the nation's bankers, Boston. So as much as I  would like to Amazon HQ2 in north Texas, my bet is somewhere along the northern I-95 corridor. 
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Natural Gas Fill Has Not Yet "Turned The Corner" -- April 26, 2018

So, from yesterday (Wednesday, April 25, 2018):
The next natural gas fill/withdrawal data will be released by the EIA tomorrow (Thursday, April 26, 2018).
This is what is/was forecast.
  • this Thursday (tomorrow), we expect EIA to report 1,287 bcf of working gas in storage for the week ending April 20.
  • 2e anticipate to see a draw of 12 bcf, which is 83 bcf larger than a year ago and 72 bcf larger vs. 5-year average.
How did that forecast work out? Actual results:
  • working gas in storage: 1,281 bcf (net change: - 18 bcf)
  • a draw of 18 bcf (vs 12 bcf predicted)
  • the forecast: almost spot on
As predicted by Platts, it looks like this will be the "longest stretch" for natural gas before "turning the corner."


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