Permian Basin gains 18 drilling rigs as oil prices rise

first_img Twitter By admin – January 26, 2018 Permian Basin gains 18 drilling rigs as oil prices rise Pinterest WhatsApp Baker Hughes logo 2 The rig count in the Permian Basin soared by 18 in the week ending Friday, the latest count by Baker Hughes shows, with 427 rigs active in the region.Nationally, the oil and gas rig count increased by 11 to a total of 947 rigs. A year ago, 712 rigs were active. The count shows that 759 rigs sought oil, an increase of 12 from the previous week, and 188 explored for natural gas, a decrease of one from the previous week. The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $62.75 per barrel, up $3 from last week. National benchmark West Texas Intermediate crude ended at $66.41 per barrel, up $2.44 from last week.ON THE NET: Baker Hughes rig count. Facebook Twitter Facebook Previous articleDAILY OIL PRICE: Jan. 26Next articleCOLLEGE BASEBALL: Odessa College ranked 13th in NCJAA preseason poll admin Local NewsBusiness WhatsApp Pinterestlast_img read more

Diversified fund market to double after spike in DB inflows

first_img“£10 billion flowed from this source in 2013, off a previous estimated base of only £30 billion.”The popularity of DGFs among the DB schemes is set to grow, as inlflows get close to £80bn by 2019, according to SpenceJohnson’s projections. DC schemes are expecetd to be allocating £20bn, up from £6.6bn currently.Much of the increase comes with an implicit requirement for DGFs to provide investors with more alpha, rather than static allocations.“The ‘diversified beta’ portion of a DGF is becoming less valued,” SpenceJohnson said.“This is combined with the emergence of risk factor investing where these sources of beta can be more accurately targeted using smart beta funds.“We believe that there will be an increasing onus in selection on exposure to market returns within DGFs being cost effective.“This will sit alongside DGF managers needing to be more explicit about how they provide alpha.”The current market is dominated by institutional allocations, with a share of 78%, according to estimates that include an educated guess of non-UK allocations coming from pension funds abroad.Dynamic DGFs also dominated the £97bn market, attracting over 60% of assets.Popularity of the dynamic strategy is underpinned by its preference among DB investors who allocate 70% of their own assets to the strategy.Average allocation within DGFs saw equity allocation reach just over 40%, with alternatives creeping over 20%.The data showed fluctuating allocations over the previous years, with the use of equities ranging from over 50% in 2009, to as low as 30% in 2011, before stabalising.Funds had shifted away from alternatives in the last year but placed greater emphasis on cash, with bond allocations also falling.Within the 27 funds analysed, allocations varied dramatically, with equity holdings ranging from well over 60% to as low as 15%.Similarly, the use of cash, and alternatives, also varied depending on the manager, and the targets set by fund.Alternative allocations went as high as 75% in one fund, compared to others that had less than 5% invested in the classes.Within equity portfolios, average allocations to UK equities hit 6% and emerging market equities 4%.The firm also predicted emerging markets would soon account of 15% of DGF allocations.“We believe this to be the case for two reasons. Firstly, the broader trend within UK pensions to diversify away from UK equities. Secondly, the increasingly international investor profile of the DGF market,” the report said.Within alternatives, real estate was still the most common, followed by commodities and absolute return investments. Adoption of diversified growth funds (DGF) by UK defined benefit (DB) schemes was underestimated, after 2013 witnessed £10bn of inflows, new research shows.Data, from market intelligence provider SpenceJohnson, showed the entire DGF market may reach £201bn by the end of 2018, up from £97bn at the end of 2013.It grew £22bn over 2013, with nearly half of all inflows coming from UK DB schemes.“The speed of adoption by DB schemes witnessed in 2013 was much faster and more significant that expected,” the report said.last_img read more

Paving to cause delays in Decatur County

first_imgGreensburg, In. — Officials from the Decatur County Emergency Management Agency say paving on County Road 1000 South between County Roads 60E and 350W will cause traffic delays.last_img

WATCH VIDEO: Violent Carjacking in Palm City

first_imgJean appeared before judge in Martin County on Tuesday facing two counts of kidnapping, one count of armed robbery and one count of carjacking with a deadly weapon. A family is violently carjacked at a Palm City gas station and a motorcyclist stops to help.Justin Laoretti had pulled his motorcycle over to the side of the road and saw the two victims, but had no idea they were carjacking victims.Laoretti was able to calm down the grandmother and her infant grandchild after 21-year-old Jaquay Jean allegedlt forced the two out of the car.Jean is accused of carjacking the vehicle at a Mobil gas station in Palm City, throwing the female driver out of the car and taking off with the grandmother and young boy still in the vehicle. Deputies locate 2 men connected in armed carjacking in Palm City @CBS12— Al Pefley (@AlPefley) October 16, 2017last_img read more