WTI At $73.68; No Wells Coming Off Confidential List; Active Rigs Slip One To 19 -- June 22, 2021

$73.68. 

Apple: set to receive priority status from pure play TSMC for iPhone 13 chip orders going into 3Q21.

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Back to the Bakken

Active rigs:

$73.68	6/22/2021	06/22/2020	06/22/2019	06/22/2018	06/22/2017
Active Rigs	19	12	64	65	59

No wells coming off the confidential list.

RBN Energy: Alberta's side of the Montney natural gas play. 

The immense Montney Formation in Western Canada is almost equally divided between the two provinces of Alberta and British Columbia. However, on either side of the provincial border there are stark differences in the number of wells drilled, well length, well productivity, and natural gas production. All these differences have resulted in Alberta being the much smaller player in the Montney gas story, with production from its side of the formation only helping to hold the line on Alberta’s total gas output in the past few years. Today, we continue our Montney analysis by looking at gas well trends on the Alberta side of this prolific formation.

For nearly 100 years, Alberta has been the leading source of Western Canada’s natural gas supplies. Previously supported for many decades by production from conventional shallow gas wells, the province’s gas output has been steadily pivoting away from the shallow wells since the early 2000s, and toward wells that tap unconventional, gas-rich formations such as the Montney. These wells, which employ horizontal drilling and multi-stage completions to unlock their immense productivity and reserves, have come to play a growing role in Alberta’s natural gas supply picture, and for Western Canada’s gas supplies in general.