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Title : WTI Back Above $70 -- July 30, 2018
link : WTI Back Above $70 -- July 30, 2018

WTI Back Above $70 -- July 30, 2018

CAT: beats earning by 24 cents. Shares jump 3.3%, up almost $5/share. Also raising full year guidance. But look at that difference year-over-year -- that's the big story. One quarter ago, $1.35; this year, $2.82. Trump tariffs -- apparently CAT not affected. Tax reform -- probably a huge reason -- what companies are allowed to expense to expense in one year.  From alloysilverstein.com:

The new law increases the amount of business property purchases that you can expense each year under Section 179 to $1 million (from $500,000 previously). Normally, spending on business property (machines, computers, vehicles, software, office equipment, etc.) is capitalized and depreciated so that the tax benefit is spread out slowly over several years. Section 179 allows you to get the tax break immediately in the year the property is placed into service.  

Texas pipelines: bigger oil pipelines are coming to west Texas to ease bottleneck. And with sub-headline Rebecca Elliott is our newest nominee for the Geico Rock Award: drillers are pumping so much oil and gas that pipelines considered more than adequate just a few years ago now are overwhelmed. Say what? That story has to be at least a year old, and now that's a headline over at WSJ.

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Back to the Bakken

Active rigs:

$70.13↑↑	7/30/2018	07/30/2017	07/30/2016	07/30/2015	07/30/2014
Active Rigs	62	61	35	73	191

RBN Energy: the next round of US liquefaction plants and LNG export terminals.
Federal regulators are preparing to accelerate their review of a wave of applications to build new liquefaction plants and LNG export terminals — most of them sited along the Gulf Coast and scheduled for commercial start-up in the early 2020s. Only a few of the multibillion-dollar projects are likely to advance to final investment decisions (FID), construction and operation, but even they will have profound impacts on U.S. natural gas production, pipeline flows, and the global LNG market. Today, we begin a look at projects still awaiting FIDs, their developers’ efforts to line up Sales and Purchase Agreements (SPAs), and the Federal Energy Regulatory Commission’s (FERC) push to review project applications in a timely manner.

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