Two Wells Come Off Confidential List Today; WTI Slips Below $64 -- April 11, 2019

Wells coming off confidential list today -- Thursday, April 11, 2019: 33 wells for the month; 33 wells for the quarter

• 33685, drl, Crescent Point Energy, CPEUSC Nelson 6-30-31-157N-99W TFH, Lone Tree Lake, no production data,
• 30006, 618, Oasis, Harbour 5501 14-4 7B,  Tyrone, t11/18; cum 78K 2/19;

Active rigs:

$63.84	4/11/2019	04/11/2018	04/11/2017	04/11/2016	04/11/2015
Active Rigs	63	59	53	31	93

RBN Energy: too much butane in Edmonton pushed prices to near zero.

What a deal! Take as much butane as you want — all for the low, low price of less than 10 cents/gallon (c/gal). That was the situation in Edmonton, AB, last November and the price stayed dirt cheap until a few days ago. Given a decline in demand for butane in crude blending, along with growing NGL production, the NGL processing and storage hub in Western Canada was awash in butane as winter approached. It remains flush with product today — and the price for Alberta butane is still low. How did this happen, and how will it play out over the next few months? Today, we examine the factors that led the Edmonton NGL market to see a price fall to near zero c/gal for the second time this decade.