17
Aug

Wrap – Week Ended 8/15/14

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Please see the Monday Post for The Week That Was section covering last week's events as the 2Q14 season wound to a close. In the coming week look for an update Permian Players cheat sheet and several other close of quarter items.

Holdings Watch:  Rare week as we closed two fairly long held positions.

  • 8/14/14 FTK – Sold the second half of our position taken in 1/18/12 for $8.55 at an average of $27.36, up 220%. In the wake of the quarterly releases we are opting to reduce some exposure to names we find more difficult to follow. Oil Service is not my first love anyway and we've done here but visibility, for me at least, is not what I'd like it to be. We continue to own HAL in Service for now and will be likely adding additional other names in the not too distant future in the Service space. 
  • 8/14/14 – GULTU - Sold the Starter position taken in June 2013 at $1.98 for an aveage of $2.37, up 20%.  The next event for the ultra deep potentially impacting this trust will be in October with the completion of the Lomond North well on the Highlanderpropsect. We may rebuy on weakness prior to a mid Fall (probably Thanksgiving-ish) time frame. 

 

The ZLT Blotter is updated.

If you have questions about the site please check out the How To ZEB link at left or email us at zman@zmansenergybrain.com

Questions under The Wrap will be addressed in the Subscriber Mailbag section of the Monday Post. 

wrap 081514

 


15
Aug

T.G.I.F.

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Market Sentiment Watch: Fear over a flat European growth outlook continues in the energy markets.   In today's post please find the natural gas inventory slide show, a quick post 2Q14 cheat sheet on the Bakkens (they're now officially cheap on 2015 estimates), brief comments on the OEDV quarter, and some other odds and ends including some interesting macro charts for global oil demand and some wrap up comments on EXXI. 

Ecodata Watch: 

  • We get PPI at 8:30 am EST (F = 0.1%, last read was 0.4%),
  • We get Empire State at 8:30 am EST (F = 20.0, last read was 25.6), 
  • We get Industrial Production at 9:15 am EST (F = +0.3%, last read +0.2%),
  • We get Capacity Utilization at 9:15 am EST (F = 79.2%, last read 79.1%),
  • We get Consumer Sentiment at 9:55 am EST (F = 82.3, last read 81.8) 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Natural Gas Inventory Review
  4. Stuff We Care About Today – Bakken Quick, OEDV, EXXI
  5. Odds & Ends

Please click the link right below this to Continue Reading »


14
Aug

Thursday Morning – EXXI, RSPP

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Market Sentiment Watch: 2Q14 reporting season winding down as the last names trickle out their releases into the doldrums summer. We continue to update numbers and largely sit on hands during trading action that is this August market. At this point in the year, the operations updates of import have been filed and everyone has that sense of knowing everything as they think of anything but adding new positions. We're using the time to hone multiple basin updates and perhaps conduct a little rebalancing mission between basins.  In today's post please find the oil inventory review, the natural gas inventory preview, comments on the quarterly results for EXXI (noisy quarter, meh guidance) and RSPP (solid as expected)  and some other odds and ends.  Please note the highlighted section in the Holdings Watch today. 

 

Ecodata Watch: 

  • Jobless Claims came in at 311,000 vs a forecast of 300,000 and last week's reading of 289,000,
  • The Import Price Index came in at -0.2% vs a forecast of -0.3% and a prior reading of +0.1%.

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Oil Inventory Review
  4. Natural Gas Inventory Preview
  5. Stuff We Care About Today –  EXXI, RSPP,  Subscriber mailbag
  6. Odds & Ends

Please click the link right below this to Continue Reading »


13
Aug

Wednesday Morning – PE, ATHL, REXX

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Market Sentiment Watch: YoYo group action continues. Leadership names in the various E&P sub groups (Bakkens, Permians, Utican's etc continue to oscillate and in some cases trip lower to new summer levels. In today's post please find comments on the PE 2Q14 results (nice big beat and acceleration), ATHL 2Q14 results (modest beat, guidance up, good well outperformance), and comments on a large acquisition by REXX.  

Ecodata Watch:

  • We get Retail Sales at 8:30 am EST (F = 0.2% headline, F = 0.4% ex autos),
  • Be get business inventories at 10 am EST (F = 0.3%, last read was 0.5%).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Oil Inventory Preview
  4. Stuff We Care About Today – PE, ATHL, REXX
  5. Odds & Ends

Please click the link right below this to

Continue Reading »


12
Aug

Tuesday Morning

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Market Sentiment Watch: 2Q14 reporting season winding down (we get another set Wednesday through Friday to wrap it up) and it will get quiet for a time until the Fall conference season kicks off (Enercom next week and then the usual pack of presentations). Look for sideways trading to develop in the group. In today's post please find brief comments on CPE as we get ready to update the Permian Players piece (after we get a few more names to report this week) and some other odds and ends.

Ecodata Watch:

  • We get NFIB small business survey at 7:30 am EST (no forecast, last read was 95),
  • We get Job Openings at 10 am EST (no forecast, last read 4.6 mm),
  • We get the federal budget at 2 pm EST (no forecast, last read was -$98 B).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – CPE, SSN 
  4. Odds & Ends

Click the link directly below this to …

Continue Reading »

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