In The News

BOE Report - Heavy crude differential widens to end week
Wednesday, 03/24/2021

March 12, 2021 – BOE Report

Heavy crude differential widens to end week

Canadian heavy crude’s discount to West Texas Intermediate (WTI) widened on Friday. Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty was trading at $11.35 per barrel below WTI, according to NE2 Canada Inc, widening from Thursday’s settlement of $11.10 per barrel below the benchmark.

Despite Friday’s widening, the heavy differential has remained relatively tight due to strong demand from U.S. Gulf refiners after the recent Texas storm and talk that...

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Calgary Herald - Varcoe: Oil price's wild ride turns corner and tops $65
Wednesday, 03/24/2021

March 5, 2021 – Calgary Herald

Varcoe: Oil price's wild ride turns corner and tops $65

By Chris Varcoe

… OPEC+ has added to the optimism, agreeing to maintain its production discipline at Thursday’s meeting.

“It was definitely a surprise,” said Martin King, senior analyst at RBN Energy in Calgary.

“Certainly, something around $60 is defensible, given how we are seeing global inventories come down and expectations for improved demand in the second half of this year.”

For Canadian oil producers, the past 12...

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NGI - Gains for Texas, Midcon in March Natural Gas Bidweek as Analysts Ponder Mild Temps, Supply Tightness
Friday, 03/05/2021

March 1, 2021 – Natural Gas Intelligence

Gains for Texas, Midcon in March Natural Gas Bidweek as Analysts Ponder Mild Temps, Supply Tightness

By Jeremiah Shelor

…Last month, Canada’s natural gas market felt the impacts that resulted from “extreme cold on both sides of the border,” RBN Energy LLC analyst Martin King wrote in a recent blog post.

The “February extremes” helped set new demand records and led to storage withdrawals that reached “never-before-seen levels” as operators worked to balance supply and demand,...

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DeSmog - Fossil Freeze: Deadly Texas Catastrophe Shows How Natural Gas Systems Can Fail when Demand Spikes
Friday, 03/05/2021

February 26, 2021 – DeSmog

Fossil Freeze: Deadly Texas Catastrophe Shows How Natural Gas Systems Can Fail when Demand Spikes

By Sharon Kelly

… At first glance, you might think it’d be nearly impossible for natural gas supplies to freeze off from a bit of cold weather. Natural gas is mostly methane, a molecule so resistant to reaching liquid form that it requires massive industrial plants to chill it into liquefied natural gas (LNG). It takes temperatures below -297 degrees Fahrenheit to freeze natural gas — temperatures more likely found in...

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JPT - Permian Producers Report Scope of Winter Storm Shut-Ins
Friday, 03/05/2021

February 23, 2021 – Journal of Petroleum Technology

Permian Producers Report Scope of Winter Storm Shut-Ins

By Trent Jacobs

…While the operators work to get the rest of their wells back on stream, analysts are working the numbers to figure out just how much oil and gas output was curtailed earlier this month.

Total Permian production may have dropped as low as 1 million B/D before returning to around 4.3 million B/D on Monday vs. a pre-storm output of about 4.5 million B/D. This is according to figures from RBN Energy,...

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