Which Was More Resilient? The Bakken Or The Permian? -- March 3, 2021

Re-posting. 

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Bakken Vs Permian

At the sidebar at the right, I have a section called "WTI Beatdown." This has to do with the crash in oil prices a year ago (the original post is dated March 9, 2020)  -- even to the point when WTI actually went negative -- which is an anomaly generally not worth mentioning.

At the time I asked which was more resilient: the Bakken or the Permian?

June 15, 2020: Argus Media calls it -- the Permian wins.

Perhaps Argus Media was premature in its call.

Now this, from Reuters: COP is still working torestore Permian oil output after freeze. 

I think one can safely assume that if one of the best names in the business is still trying to thaw out in the Permian, it's the same for the other Permian operators.

What about the Bakken, you ask? From the linked article:

Houston-based ConocoPhillips has restored, all of its Eagle Ford, Texas crude output back online and most of its production in the Bakken shale basin in North Dakota and Montana, chief economist Helen Currie said during CERAWeek by IHS Markit.

So, perhaps, with a 100-year freeze put into the equation, the Bakken is more resilient than the Permian.