Locator: 50374B.
Anticipation: I am so ready for summer! It's cool (cold?) in the morning but gets to 84°F in the late afternoon, but being cold in the morning doesn't allow for the pool to retain the heat overnight. So, still too cold to swim. I am so ready for summer! Biking would be fine but it's been incredibly windy lately.
Boring: Overnight, no news to report. Boring. So, two Apple links.
- Clickbait: the first one is clickbait, full of ads. I can't imagine anyone subscribing to this site. Fifty years of photos of Apple. Link here.
- Pure gold: On the other hand, this is pure gold. Link here. Before MacBook Neo, there was iBook. And, yes, I had an iBook and I loved it.
Iran: folks continue to miss the story. This country was on its way to having a nuclear ballistic missile.
- "we" have about 3,000 targets left to hit;
- then time to let the rest of the world worry about the strait. The US absolutely doesn't need it.
Investing: finally, after being in the vortex, I was able to get back to investing. Yesterday / early this morning, "we're" back. It's a great feeling! SRE hitting an all-time high yesterday was a huge morale boost.
WTI: from sometime yesterday --
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Back to the Bakken
WTI: $102.9. Off its recent high of $104.6. Wow. CVX was off 44 cents yesterday; futures, up 62 cents today. A really, really high p/e of 32 this morning. After hitting an all-time yesterday, Sempra (SRE) is flat in pre-market trading. So, even the oil market is boring.
New wells reporting:
- Wednesday, April 1, 2026: 3 for the month, 3 for the quarter, 160 for the year,
- 41446, conf, Whiting, Violet Olson 5596 13-5 4B,
- 41445, conf, Whiting, Violet Olson 5596 13-5 3B,
- 41444, conf, Whiting, Violet Olson 5596 13-5 2B,
- Tuesday, March 31, 2026: 53 for the month, 157 for the quarter, 157 for the year,
- None.
RBN Energy: where western Canadian crude oil goes and how it gets there. Link here. Archived.
End markets for Canadian crude oil have evolved as production and export capacity have grown, especially in the past few years as more Western Canadian crude has moved off the continent. In today’s RBN blog, the fourth in a series, we’ll dig deep into the data to see exactly where Western Canadian Sedimentary Basin (WCSB) crude oil supply goes, how it gets there, and how those destination markets have evolved over time. What we’ll present is not the typical assessment you’ll see elsewhere that cites commonly referenced statistics. Instead, we’ve waded through several data sources to piece together a more accurate analysis of where these barrels ultimately end up, adjusting for nuances that are often overlooked. We’ll also distinguish between where the heavy and lighter barrels go. This will establish a baseline so that in future blogs we can look at how each of the proposed WCSB export capacity growth options might impact market dynamics, which is especially topical these days given how the turmoil in the Middle East is disrupting global crude oil flows.
Canadian crude oil has been a popular topic in the RBN blogosphere since the beginning of the year. In Part 1 of this series, we discussed the drivers behind WCSB crude oil production nearly doubling from 2010 to 2025, as well as its seasonal trends. In Part 2, we reviewed the major pipeline projects that expanded capacity to move barrels out of the WCSB, how the timing of those projects matched up with supply growth, and current export pipeline capacity. In Part 3, we examined how WCSB crude oil price discounts are impacted by pipeline scarcity and production seasonality.
In today’s blog, let’s start by recapping the pipelines that move crude oil out of the WCSB, a region that spans west to east from northeastern British Columbia (BC), through Alberta and Saskatchewan, to western Manitoba. Figure 1 below shows the main North American pipeline systems moving WCSB crude oil. The largest pipeline export conduit is the Enbridge Mainline (light-pink lines), which moved about 3 MMb/d of crude oil out of the WCSB in 2025 (70% heavy), of which approximately 2.4 MMb/d went to the U.S. PADD 2 (Midwest) and PADD 3 (Gulf Coast) markets, while the remainder was delivered back into Canada at the Ontario border to feed pipeline-connected refineries in Ontario, Quebec, and Pennsylvania.
