It's Good Friday -- Not Saturday -- Friday, April 18, 2025

Locator: 48497B.

Trump: many activities; most will get little exposure.

Sports:

• PGA: RBC (Royal Bank of Canada), played in one of America's outdoor / beach / golf destinations
• tournament and location said to be a vacation for the PGA spouses and their families
• nice relaxing weeked
• Rory, deservedly, taking the weekend off
  
• NBA: two games this evening to complete the play-in; brackets will be complete late tonight

Time to catch up on some reading.  

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Back to the Bakken

WTI: $64.68.

New wells:

• Sunday, April 20, 2025: 76 for the month, 76 for the quarter, 283 for the year,
• 40667, conf, Grayson Mill, Scott 13-24 6HR,
• 38680, conf, Petro-Hunt, USA 153-95-5A-31-1H,
• Saturday, April 19, 2025: 74 for the month, 74 for the quarter, 281 for the year,
• 41174, conf, CLR, Helen 4-8H,
• Friday, April 18, 2025: 73 for the month, 73 for the quarter, 280 for the year,
• 41173, conf, CLR, Kenneth 3-17H,
• 40975, conf, CLR, Rutledge 6-11HSL,
• 40755, conf, Rockport Energy Solutions, Chandler 14-23 1H,
• 40742, conf, Kraken Operating, Triangle South 12-1 9H,
• 40678, conf, Grayson Mill, Scott 13-24F XE 1HR,

RBN Energy: encore edition - U.S., Canadian energy markets remain key allies despite trade tensions. 

The U.S. and Canada have long been considered to have one of the most successful bilateral trading relationships in the world, even if those bonds are being tested like never before. Americans and Canadians are inextricably linked in a number of ways, from less-serious endeavors like sports and entertainment to more important topics like commerce and energy policy. And you can see the similarities in the hard-working people in the energy capitals of the two nations, Calgary and Houston. Of course, both cities have epic rodeo seasons. And, aside from the fact that our northern neighbors can easily handle cold weather at a level that would (and often does) simply shut down the Bayou City, we’re cut from the same kind of cloth — good-natured and business-minded.

Despite that camaraderie, trade relations between the two countries’ governments are frayed and tensions unresolved, so it’s more important than ever to understand the essential connections between the two neighbors, even if current circumstances remain difficult. The strongest energy-related links are around crude oil, the main focus for Day 1 of our upcoming conference. Canada (purple layer in Figure 1 below) supplied 3.8 MMb/d to the U.S. in 2024, or about two-thirds of total U.S. imports, with imports from OPEC countries (blue layer) and non-OPEC countries (green layer) in distant second and third place at 1 MMb/d and 740 Mb/d, respectively. Most of those Canadian imports flowed to U.S. refineries in PADD 2 (Midwest), many of which are configured specifically to process large volumes of heavy Canadian crude (see Heart of the Country).

Figure 1. U.S. Crude Oil Imports by Source. Source: RBN