19
Jun

Monday Morning – RICE

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Market Sentiment Watch: Much lighter week on the economic data and oil news front. In today's post please find The Week That Was, a subscriber mailbag question from the weekend, some brief comments on the acquisition of RICE (our 6th largest position in the ZLT and largest gassy position) by EQT, and some other odds and ends. 

Ecodata Watch:

  • No economic data scheduled. 

The Week Ahead: 

  • Tuesday - Current account deficit, 
  • Wednesday - Existing home sales,
  • Thursday - Jobless claims, leading economic indicators, 
  • Friday - Markit PMI (flash), new home sales. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Stuff We Care About Today – Subscriber mailbag watch, RICE
  5. Odds & Ends

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18
Jun

Wrap – Week Ended 6/16/2017

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Questions and comments under The Wrap will be addressed in the Monday post.

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16
Jun

T.G.I.F.

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Market Sentiment Watch: Hedge fund story out saying that 8 big ones have pared their exposure to the Permian. Timing seems a bit odd (late) if it was your plan to sell as the company plans for growth have been around since 4Q16. In today's post please find the natural gas storage review (smaller than expected injection, smaller one again next week), some comments on the EIA production forecast methodology, comments on a solid ECR operations update, and some other odds and ends. 

Ecodata Watch:

  • We get Housing Starts at 8:30 am EST (F = 1.23 mm, last read was 1.17 mm),
  • We get Building Permits at 8:30 am EST (no forecast, last read was 1.23 mm),
  • We get Consumer Sentiment at 10 am EST (F = 97.3, last read was 97.1). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - Drilling Productivity, Wattenberg Multiples, ECR
  5. Odds & Ends

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15
Jun

Thursday Morning – Oil Review and Natural Gas Preview Plus Orange Charts

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Market Sentiment Watch: Energyland needs more obviously good, not ambiguously good data for the group to find traction in 3Q17. We anticipate global inventory reductions but the market wants to see U.S. weekly reductions and soon. In today's post please find the oil inventory review (OK oil inventory draw offset by unexpected gasoline build - expect demand to pick up sharply near term), the natural gas preview (expecting an inline with five year average type injection and a string of smaller injections after that on heat), the Permian Orange Charts, and some other odds and ends. 

Ecodata Watch:

  • We get Jobless Claims at 8:30 am EST (F = 245,000, last read 245,000),
  • We get Import Prices for May at 8:30 am EST (no forecast, last read was 0.5%),
  • We get the Philly Fed at 8:30 am EST (no forecast, last read was 38.8),
  • We get Empire State at 8:30 am EST (no forecast, last read was - 1.0),
  • We get Industrial Production at 9:15 am EST (F = 0.1%, last read was 1.0),
  • We get Capacity Utilization at 9:15 am EST (F = 76.7%, same as last read),
  • We get the Home Builiders' index at 10 am EST (no forecast, last read was 70). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - Orange Charts - Permian
  5. Odds & Ends

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14
Jun

Wednesday Morning – REN

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Market Sentiment Watch: Fed decision day. In today's post please find the oil inventory preview (more than usual price action hinging on this one especially after last week's surprising EIA report and last nights crude build at API), the natural gas inventory preview (expect to be in line with the averages and the beginning of what we see as a string of smaller injections), comments and a cheat sheet update on REN, and some other odds and ends. 

Ecodata Watch:

  • We get CPI at 8:30 am EST (headline and core forecast at 0.2% vs 0.2% and 0.1% respective last reads),
  • We get Retail Sales at 8:30 am EST (headline forecast of 0.0%, ex autos forecast of 0.1% vs respective last reads of 0.4% and 0.3%),
  • We get business inventories at 10 am EST (no forecast, last read of +0.2%),
  • We get the FOMC statement at 2 pm EST (a quarter point increase is expected),
  • At 2:30 pm EST Yellen holds her press conference. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - REN
  4. Odds & Ends

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