20
Apr

Friday Morning – COG, SLB

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Market Sentiment Watch: Improving energy sentiment. In today's post please find the natural gas storage review (bigger than expected draw, stocks now off over 800 Bcf relative to year ago levels and nearly 450 Bcf below the 5 year average ... good starting point for the injection season, 3rd lowest level for stocks in the last 10 years for this week of the year ... few care, yet), comments on the SLB quarter (SLB kicks off the 1Q18 energy reporting season with a mixed company bag but strong macro outlook), comments and a cheat sheet update for COG (ahead of next week's 1Q18 report), and some other odds and ends. Energy earnings and news flow will accelerate next week. 

Ecodata Watch:

  • No economic data releases scheduled for today. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - SLB, COG, HCLP, names of interest reporting next week. 
  5. Odds & Ends

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19
Apr

Thursday Morning – REN

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Market Sentiment Watch: Energy sentiment continues to improve. We would not be surprised to see some secondary market offerings in the space near term to help more rapidly firm balance sheets and supplement capital programs.  In today's post please find the oil inventory review (better than expected report across the board with unexpected draws for the headline numbers and all time record weekly gasoline demand as a bonus), the natural gas preview (late season withdrawal consensus has moved up to our expectations from late last week), a trade notification in the Holdings Watch section, comments and a cheat sheet update for REN, and some other odds and ends. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 230,000, last read was 233,000),
  • We get Philly Fed at 8:30 am EST (no forecast, last month was 22.3),
  • We get leading economic indicators at 10 am EST (no forecast, last read was 0.6%). 

In Today’s Post:

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

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18
Apr

Wednesday Morning

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Market Sentiment Watch:  Energy sentiment gradually improving as 1Q18 reporting season approaches. In today's post please find the oil inventory preview (Street looking for essentially unchanged inventories across the board; API reflected better than expected numbers across the board), the natural gas storage preview (withdrawal expectations jumped from early in the week to levels more in line with our thoughts from Friday), thoughts and a cheat sheet update for REI, and some other odds and ends. 

Ecodata Watch:

  • We get the Beige Book at 2 pm EST.
  • Dudley and Quarles speak at 3:15 pm and 4:15 pm EST respectively.

In Today’s Post:

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

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17
Apr

Tuesday Morning – Other Permians

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Market Sentiment Watch: Earnings in focus, China worries background noise at present. In today's post please find an initial Permian Players Group 2 short form metrics table (more names we are just keeping an eye on in a requested group look), the oil inventory preview, and some other odds and ends. 

Ecodata Watch:

  • We get housing starts at 8:30 am EST (F = 1.255 mm, last read was 1.236 mm),
  • We get building permits at 8:30 am EST (no forecast, last read was 1.298 mm),
  • We get industrial production at 9:15 am EST (F = 0.4%, last read was 0.9%),
  • We get capacity utilization at 9:15 am EST (F = 78%, last read was 77.7%).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today –  Permian Players Group 2
  4. Odds & Ends

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16
Apr

Monday Morning

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Good Things To Know Watch 1:  It's tax time. Investment-related expenses that you may be able to deduct include fees for subscriptions to financial publications and research used to guide your investment decisions. Yeah, that's us but as always check with your tax guy.

Good Things To Know Watch 2:  Want to earn free time on the site?  It's headache free and rewarding. Send us a note zman@zmansenergybrain.com for details. 

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Market Sentiment Watch: Very busy week on the economic data front with a over a half dozen Fed speakers making speeches as well. We continue to expect volatile market conditions. The energy group put on one of the best performances in recent memory last week with the ZLT rising nearly 8% as oil reached further back into 2014 for new 3 plus year highs. We would not at all be surprised to see a near term pull back in oil prices. In energyland, look for increasing news flow as we approach reporting season.   In today's post please find The Week That Was, new comments in the holdings watch section, and some other odds and ends. 

Ecodata Watch:

  • We get Retail sales at 8:30 am EST (F = 0.4% headline vs -0.1% last month and forecast of 0.2% ex autos vs 0.2% last month),
  • We get Empire State at 8:30 am EST (no forecast, last read was 22.5),
  • We get the home builders' index at 10 am EST (no forecast, last read was 70)
  • We get business inventories at 10 am EST (no forecast, last read was 0.6%).

The Week Ahead: 

  • Tuesday - Housing starts, building permits, industrial production, capacity utilization,  
  • Wednesday - Beige Book, 
  • Thursday - Jobless claims, Philly Fed, leading indicators 
  • Friday - none scheduled. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Stuff We Care About Today 
  5. Odds & Ends

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Continue Reading »

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