08
Jun

Wrap – Week Ended 06/07/13 (In Progress)

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Good week, 

Holdings Watch:

  • Strong week in the group and a touch stronger in the ZLT as our larger core positions in the Williston and Wattenberg outperformed. 
  • The blotter is updated,
  • The weightings pie graph will be updated for the Monday post as we did make some minor shifts in gassy allocation. 

The natural gas production, imports and demand slide shows from last Monday can be seen here

The Week That Was section of the Monday post will cover the highlights of the gas macro and the rest of the highlights of last week from KOG's good sized Bakken buy and its meaning for TPLM to an IPO preview to WPX thoughts and more. 

Note the drop in speculator holdings in the CFTC section below. Interesting in light of the post OPEC dollar inspired rally in both WTI and Brent. 

... more in a bit ... 

wrap 060713

18 Responses to “Wrap – Week Ended 06/07/13 (In Progress)”

  1. 1
    crysball Says:

    Chinese   pushing  an  alternate  to  the  Panama Canal ……………..in  Nicaraugua……….and  it  will  happen   next  week!

    http://news.yahoo.com/nicaragua-canal-fast-tracked-chinese-boost-173611883.html

    Now this  ia a project  which  would  consume  and  immense  amount  of resources. to build………….and  burn  a lot  of oil & NG

    No  Environmental  issues  or  delays as the  Chinese  have already  co-opted  the   political  leadership  of  Nicaragua.

     

  2. 2
    Popeye Says:

    This sounds like a good rate for a broken well, no?

    Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) advises that operations on the Earl #1-13H progressed to drilling out plugs 19 to plug 11. At this point the tubing string being used to drill the plugs parted at around 4,400 feet. The top part of the tubing string was subsequently recovered and an operation to recover the balance of the tubing is underway. This has taken longer than anticipated because the drill pad had to be reinforced with gravel as a consequence of the spring thaw. In addition, unseasonal blizzard conditions have been experienced in North Dakota which shut down operations for a 48 hour period.

    A rotating snubbing unit was mobilized to the well site the morning of Friday May 6th. This equipment will enable the parted tubing string to be rotated and pulled such that the drill string is successfully recovered. The rupture in the drill string is thought to have been caused by frac sand forming a bridge behind the drill bit. Once the string is rotated and fluid circulated, the string will be recovered.

    Whilst these operations have been undertaken, the well continued to flow hydrocarbons and the rate in the 24 hours ending 0500 hours on May 6th was 749 BOPD, with rates observed up to 1296 BOPD.

  3. 3
    Popeye Says:

    Well that was a month old, sorry it just showed up here.

  4. 4
    crysball Says:

    NO   JOY  on  gasoline  prices   in  Indiana…due to refinery outages/ turn delays….  current average  is $4.16/gallon

    http://oilprice.com/Latest-Energy-News/World-News/Summer-holidays-for-Indiana-families-are-delayed-for-the-time-being-as-motorists.html

  5. 5
    zman Says:

    Popeye – thanks for posting, no worries

    Crys – it made the evening nightly news tonight, not a lot of relief there in site, national average closer to $3.63. 

    Zorg – I deleted your last accidental comment, post when ready. 

  6. 6
    Zorgnak Says:

    S&P Futures…Got the bounce above 1526. Expecting to test up to the 1548-56 CHVN. A break of minor resistance at 1560 and all time highs come into play again. Last weeks sell off ocurred after the daily demand volume reached extremes  on the daily, weekly and monthly time frames. I'll be alert for a test higher on lower demand volume. On the downside watch 1626 as the CHVN/volume pivot that needs to hold for the bullish short term bias to push to 1656. 

    http://www.charthub.com/images/2013/06/09/ES_Master_1306091554.png

  7. 7
    Zorgnak Says:

    zorg is losing it..again.   #6 should read 

    S&P Futures…Got the bounce above 1626. Expecting to test up to the 1648-56 CHVN. A break of minor resistance at 1560 and all time highs come into play again. Last weeks sell off ocurred after the daily demand volume reached extremes  on the daily, weekly and monthly time frames. I'll be alert for a test higher on lower demand volume. On the downside watch 1626 as the CHVN/volume pivot that needs to hold for the bullish short term bias to push to 1656. 

    http://www.charthub.com/images/2013/06/09/ES_Master_1306091554.png

     

     

  8. 8
    Zorgnak Says:

    $USD tested it's lower range/support at 81.50 last week and I expect it to revert back to the CHVN at 82.50 in the short term and then chop around along with the equity markets. 

    http://www.charthub.com/images/2013/06/09/DXY_Master_1306091645.png

  9. 9
    Zorgnak Says:

    Crude Oil looks overbought at minor support at 96.64 as it tightens in it's range at the long term CHVN at 93.70. Note the last two quarter volume profiles are within pennies of each other and long term point of control at 93.70. So 93.70 is the magnet at the moment.

    http://www.charthub.com/images/2013/06/09/Crude_Oil_Multi_Period_1306091649.png

  10. 10
    Zorgnak Says:

    XLE  Sector held support last week and along with financials moved the easiest to the upside on bounce among the major sectors. Demand volume positive in all time frames. 

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091703.png

    XOP  Smaller cap E&P bounce off minor supprt(59.65) and rallied above the CHVN(supply) at 60.50. Demand volume is positive in all time frames and not yet at extremes associated with longer term tops. 

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091708.png

     

  11. 11
    Zorgnak Says:

    FCG   Nat Gas Stock ETF trading back to the upper end of it's range on Friday on 2 X average daily volume. Individual gas stocks traded up in light volume. On the weekly time frames

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091732.png

    RRC and SWN  gave a good entry points last week with a pullback to defined support/breakout level from long term volume bases

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091739.png

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091740.png

  12. 12
    Zorgnak Says:

    REXX barely noticed the market correction and is still poised high and tight at breakout levels.

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091742.png

    CRZO  traded in balance at (26) during the correrction and looks ready to go again. More supply here than with REXX.  Supply to 30

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091749.png

  13. 13
    Zorgnak Says:

    NFX  Trading in balance at 23.50. Dmeand volume coming back. See next move up with first supply/target at 24.83 and longer term target at 27

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091756.png

  14. 14
    Zorgnak Says:

    WPX   Tested support. Upside looks the path of least resistance.

    http://www.charthub.com/images/2013/06/09/Stock_Master390_1306091801.png

  15. 15
    brodway Says:

    Zorg.

    liking the crzo chart. higher highs and lows since the November chilly move down in equities. the current 70 point move down in the S&P didn't break the chart at all. the higher low of 25 1/2 was considerably higher than the last retest of 24. that's pretty impressive and certainly suggest accumulation.

    looking throug the univere of stocks, financials got a strong bounce off the retest and looming toward new highs again.

  16. 16
    brodway Says:

    the MS chart is just monster

  17. 17
    choices Says:

    Interesting article by an author who has been observing Soviet and Russian politics for a long while-implications for the gas mkt everywhere, particularly in Europe:

    http://www.bloomberg.com/news/2013-06-09/gazprom-s-demise-could-topple-putin.html

  18. 18
    zman Says:

    TPLM reports a beat for its 1QFY14, revenue ahead on higher than expected RockPile contribution, big gain in current production rate as expected with the more active program, highlights / comments later in today's post. 

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