Two Wells Coming Off The Confidential List Today -- December 29, 2020

Active rigs:

$48.14	12/29/2020	12/29/2019	12/29/2018	12/29/2017	12/29/2016
Active Rigs	13	56	66	48	39

Two wells coming off confidential list --

Tuesday, December 29, 2020:

• 36681, drl/A, Hess, BL-Iverson C-155-96-2314H-10, Beaver Lodge, first production, 6/20; t--; cum 105K 10/20; huge well;
  
• 36252, loc/NC, Slawson, Osprey Federal 2-26-29H, Big Bend, no production data,
  

RBN Energy: above-average winter withdrawals expected fro Canadian natural gas storage. 

Canadian natural gas storage levels finished the most recent injection season at a record high. With what has been a fairly mild start to the heating season so far in North America, you might be tempted to think that Canadian storage levels would have been slow to draw down. On the contrary: so far, gas is being withdrawn from storage more quickly than might be expected from the winter weather alone, partly because of structural developments that have been emerging in the Canadian market. And these changes will help to draw storage levels down closer to historical averages by the end of the current heating season in March 2021. Today, we consider these structural changes and what the current heating season might have in store for the Canadian gas market.

Though Canada has only about one-fifth as much natural gas storage capacity as the U.S., that storage plays a vital role in balancing the gas markets in both countries. Also, while trends in Canadian gas storage have largely reflected those in U.S. gas storage, the current heating season may well provide more variation than is usual for Canadian gas storage.