Three Wells Coming Off The Confidential List -- May 29, 2020

OPEC basket: $29.03

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Back to the Bakken

Active rigs:

$32.71	5/29/2020	05/29/2019	05/29/2018	05/29/2017	05/29/2016
Active Rigs	11	64	65	50	29

Three wells coming off the confidential list -- Friday, May 29 2020: 93 for the month; 143 for the quarter, 370 for the year:

• 36208, drl/drl, XTO, FBIR Baker 34X-25D, Heart Butte, t--; cum --;
• 34256, drl/drl, Crescent Point Energy, CPEUSC Tami 3-8-5-157N-99W MBH, Lone Tree Lake, , t--; cum --;
• 33840, drl/NC, Crescent Point Energy, CPEUSC Tami 10-8-5-157N-99W TFH, Lone Tree Lake, t--; cum --;

RBN Energy: recent trends and outlook for Canadian crude oil, liquids and natural gas.

Canada’s energy sector has been hit hard by the recent oil price collapse that was initially set off by the now-ended Saudi Arabia-Russia price war and made much worse by the demand-destroying effects of the global COVID-19 pandemic lockdowns.

The impacts on Canada’s crude oil and natural gas sectors have been both dramatic and nuanced. For example, oil supply cutbacks have been rapid and substantial, while there has been virtually zero impact on natural gas supplies. Oil demand has been similarly affected, with refined product demand seeing a large swoon, while natural gas demand has suffered only a modest pullback. And for Canada’s energy exports, these have experienced some jolting swings in a matter of weeks, putting the whole sector under pressure to adapt where possible. Today, we highlight some of the recent market disruptions and their implications.