Could We See $70-WTI Today? Two Wells Coming Off Confidential List -- June 30, 2023

Locator: 44838WTI. 

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Back to the Bakken

WTI; hallelujah! We may see $70 today.

Sunday, July 2, 2023: 45 for the month; 153 for the quarter, 408 for the year
39425, conf, CLR, Bice Federal 8-32H,
37898, conf, BR, Lillibridge 2A MBH,
35679, conf, Liberty Resources, Albertson E 158-93-27-34-3MBH,

Saturday, July 1 2023: 42 for the month; 150 for the quarter, 405 for the year
39424, conf, CLR, Bice Federal 7-32H1,
35678, conf, Liberty Resources, Albertson E 158-93-227-34-2MBH,

Friday, June 30, 2023: 40 for the month; 148 for the quarter, 403 for the year
39423, conf, CLR, Skachhenko Federal 11-3HSL,
38855, conf, Whiting, Littlefield 11-21TFHU;

RBN Energy: the new Appalachian gas producer playbook in a pipeline-constrained world.

The Fiscal Responsibility Act (FRA) revived Mountain Valley Pipeline’s (MVP) prospects of being completed this year, but the outlook for new, large-scale natural gas takeaway projects in the Northeast beyond MVP hasn’t changed. What has changed, however, is how Appalachian natural gas-focused producers respond to pipeline constraints and lower prices. Gone are the days of drilling with abandon, crushing supply prices and assuming the necessary pipeline capacity will eventually get built.

Instead, producers have demonstrated a willingness to slow drilling activity, delay completions and choke back producing wells in the short-term to manage their inventory during periods of lower gas prices. In today’s RBN blog, we lay out our view of what that shift in producer behavior will mean for Northeast supply, demand and pricing trends in the long-term.