WTI Above $61; Active Rig Count At 17; One Well Coming Off Confidential List, No Data -- April 14, 2021

Good riddance:Bernie Madoff.

Banks: "eye-popping" numbers; earnings exceeding analysts by as much as 80%; most at 40 - 60% over expectations.

Saudi-India rift: link here. Stand-alone post, later, perhaps.

China oil imports: surge ahead of refinery maintenance season. Link here. Stand-alone post, later, perhaps.

SRE: SeekingAlpha, April 14, 2021.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

WTI: up over 2%; up over $1.21; trading at $61.39. Whoo-hoo!

*****************************************
Back to the Bakken

Active rigs:

$61.39	4/14/2021	04/14/2020	04/14/2019	04/14/2018	04/14/2017
Active Rigs	17	34	63	61	51

One well coming off confidential list -- Wednesday, April 14, 2021: 8 for the month, 8 for the quarter, 89 for the year:

• 37232, drl/NC, WPX, Patricia Kelly 2-1HA, Spotted Horn, no production data,

RBN Energy: less gas available for Canadian gas storage injection this summer.  

Every gas storage injection season gives us a chance to size up how supply and demand components might influence how much gas can be stuffed away in underground reservoirs prior to the next heating season. For the Canadian storage injection season that is just getting underway, a number of factors have shifted that balance, resulting in a slowing rate of gas storage builds this year. A slower build, and subsequently lower storage levels by the end of the injection season than last year, seems likely to provide solid support for Canadian gas prices. Today, we review the latest developments and outlook for gas fundamentals in Canada.

The arrival of spring in North America brings with it more temperate weather, prompting people to get outside, do some spring cleaning, and shake off the winter cobwebs. This year, even more than most, we’re looking forward to coming out of our winter burrows (or pandemic bunkers), the beginning of baseball season, and, of course, the gas storage injection season. This period, traditionally running from April 1 to October 31, takes advantage of the lower space heating demand of the spring, summer, and early fall to replenish underground storage reservoirs across North America. It is also a time when market pundits develop forecasts of how much gas will be injected, and to what level storage reservoirs will fill, by the end of October and before the kick-off of the next heating season and another round of storage withdrawals.