Two Oil And Gas Wells Coming Off Confidential List -- August 31, 2020

Tick tock; WMT, MSFT very, very volatile today. Overnight, the word on the street: TikTok sale dead. Now, just before the market opens, the word on the street: a TikTok sale is very, very close to being announced, as early as tomorrow.

AAPL: up about a percent post-split; first day of trading at post-split price.

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Back to the Bakken

Active rigs:

$43.26	8/31/2020	08/31/2019	08/31/2018	08/31/2017	08/31/2016
Active Rigs	10	64	63	55	33

Wells coming off confidential list -- 

Monday, August 31, 2020:

• None.

Sunday, August 30, 2020:

• None.

Saturday, August 29, 2020: 81 for the month; 152 for the quarter, 598 for the year

• 35928, drl/IA,  CLR, Jamestown Federal 11-17H, Banks, t--; cum 31K over 3 months;
  
• 33947, drl/NC, MRO, Prior USA42-8TFH-2B, Reunion Bay, no production data,
  
• 90476, drl/IA,  KODA Resources, Stout 29 SWD 1, Fertile Valley, salt water disposal well; non-producing;
  

RBN Energy: spare capacity finally opens up on Canada's oil pipelines, part 2.  

In May of this year, Western Canada’s oil production shut-ins due to weak demand and poor pricing were estimated to have peaked near 1 MMb/d, resulting in a 20% drop from the near-record production levels reached only a few months earlier.

The magnitude of the production fall in such a short period of time caused a significant drop in the utilization of pipelines that transport crude oil from Alberta to other parts of Canada and the U.S.

All of a sudden, pipelines that had been heavily rationing their capacity over the past couple of years to accommodate steadily rising production suddenly had ample spare capacity. With those supplies now on the road to recovery, pipelines have begun to fill some of that extra space and are moving toward rationing capacity once again.

Today, we continue our review of Western Canadian production and takeaway capacity with a look at how this spring’s production cuts affected the region’s biggest pipelines.

The saga of the crude oil pipelines that transport Canada’s production to market has had many twists and turns. With increasing supplies the past few years outstripping available pipeline capacity, a number of large capacity expansions have been proposed, but they have been frequently stymied by regulatory and legal roadblocks on both sides of the U.S./Canada border.