02
Jun

Wrap – Week Ended 06/01/07

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Short and sweet.

RBOB actually fell this week. I'll update crack spreads Sunday.

CFTC Natural Gas Net Short Position Increases. The CFTC reported a drop in the number of longs. Shorts remained about the same. This is within about a 10% of the all time high for shorts

U.S. Rigs drilling for natural gas increased yet again to a new record of 1,484. It's a record for the modern era any way. This data only goes back on a O/G split basis back to 1987. Older data would no doubt show higher levels but still...1987...that's 20 years! And we're growing production finally but this is the price of that growth. Good news for the service guys, bad news for your Grandmother on social security. We'll there's always Global Warming. Note to congress. Build more nukes.

That rain off the Yucatan turned into Tropical Storm Barry late Friday and has again weakened to a tropical depression over Florida. No impact from named storm number 2 this year.

MEND agrees to a one month ceasefire. They're still running a pirate bed and breakfast though as 4 (SLB) workers were taken hostage today.

(NFX) - the rumor mill according to chron.com is that (NBL) offers share for share on Monday.  20% premium. If it happens you've got to take a hard look at (SWN), (PXD), even (SFY). The group will no doubt rally. Among the bigger caps you've got to think (APC) would make a tasty morsel for (XOM) or (CVX). I'm sure Icahn thinks so.

6 Responses to “Wrap – Week Ended 06/01/07”

  1. 1
    zman Says:

    Positions Updated for Friday prices.

    http://zmansenergybrain.com/?page_id=72

    Stocks Held
    Calls Open, closed,
    Puts open (ouch)
    Stocks of interest

  2. 2
    T-Tupp Says:

    z- what is the gap in the cracks chart?

    ps im gona vote right now for Blogger’s C.A’s

  3. 3
    zman Says:

    T – It’s where I transition the data from quarterly to the recent weeks. I’ll get the data for the week ended the 25th soon and I’ll check out the VLO site to see if we can get something, by region, that’s a little more up to date!

    Thanks for the vote!

  4. 4
    T-Tupp Says:

    yea i had the data for the week ending the 25th on like tuesday (VLO site).

    where do you get your info to make your graphs, because i am making one right now- it would be awesome to make my graph with the data through the friday that just passed. just got a copy of office 2007 and its unreal….

    ps looks like cracks are starting a reversal from the most recent data i have (may 25th). but try to tell that to TSO; it’s friggin breaking out of a trading range, but only on very low volume of 4 M, vs avg of 6 or so, and previous break-out turnover of sometimes upwards of 15-18M shares.

    i cant find anything from google for sites who keep up to date data on this, its actually suprising. by they way did you do any BMOCM research reading yeat, they have all the reports from this week posted: nat. gas rep., oil & gas report, refiners report, and oil services report. m in the midle of reading them right now

  5. 5
    zman Says:

    Tupp

    TSO site has been late to update. Days late. Will update tonight.

    I look at the BMO research every once in awhile. Let me know if there’s call to read tonight!

  6. 6
    T-Tupp Says:

    its crazy how low TSO’s P/CF and P/E (for 2007) are trading compared to industry ave over the past few years of ~ 8-10

    tso; p/cf, p/e: 2.8, 4.1!!!!!
    vlo; pcf, p/e: 5.2, 6.4!!

    –COMPARED TO–

    hoc: 9.8, 12.2 (talk about overvalued!)
    wnr: 9.2, 10.6 (see above)

    and this isn’t because of yoy growth prospects; vlo has a higher yoy eps growth…..

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