The first two articles in this series explained the rationale for Russian President Vladimir Putin’s oil price war, the second article in more detail than the first. Before delving into three major wildcards that could impact Putin’s price war, both in a positive and negative manner, I have one matter I wish to discuss related to the central thesis, based on comments by a few friends and colleagues over the past week.
March 27, 2020, 4:52 AM MDT
Western Canadian rig activity started the year strong, but heading into spring breakup it has cratered and a quick recovery is unlikely as the Saudi/Russian oil price war, lower demand as a result of the COVID-19 outbreak, and the concomitant reductions in producer capital budgets should keep activity muted in Q2 and Q3.
March 27, 2020, 8:40 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of March 27, 2020, as reported this morning by Rig Locator.
March 27, 2020, 11:26 AM MDT
The U.S. rig count is down 44 rigs from last week to 728, with oil rigs down 40 to 624, gas rigs down four to 102, and miscellaneous rigs unchanged at two, according to Baker Hughes.
March 27, 2020, 11:13 AM MDT
Equinor, OMV and Eni joined the ranks of the world’s major producers this week to announce a cut in their capital spending budgets for 2020, in the wake of the oil price crash and the COVID-19 pandemic.
March 27, 2020, 9:26 AM MDT
March 27, 2020, 11:02 AM MDT
Already grappling with infrastructure challenges, the Canadian petroleum industry now faces COVID-19 and a near-complete crude price collapse.
March 27, 2020, 9:13 AM MDT
March 27, 2020, 7:59 AM MDT
March 27, 2020, 8:19 AM MDT
March 27, 2020, 8:06 AM MDT
In response to the current global environment and lower anticipated customer demand, Horizon North Logistics Inc. is taking a series of steps to mitigate negative impacts, including reducing its sustaining capital spending by 38 per cent to $13 million, which includes a pause on mat manufacturing.
March 27, 2020, 7 AM MDT
Delphi Energy Corp. says it has concluded completion operations on its first three (three net) Montney wells in the 2020 drilling program and expects to have them all placed on production by month’s end.
March 27, 2020, 10:35 AM MDT
March 27, 2020, 8:12 AM MDT
March 27, 2020, 7:51 AM MDT
March 27, 2020, 8:25 AM MDT
March 27, 2020, 8:38 AM MDT