Gains in Anadarko and Bakken Offset Losses in Permian as Total US Rig Count Unchanged at 592

Total US rig count was unchanged for the week ending March 14 according to Baker Hughes, remaining at 592 rigs. Gains this week in the Anadarko (+2) and Bakken (+1) were offset by losses in the Permian (-3). Total US rig count is up three in the last 90 days, and down 37 vs.

Canadian Drilling – Rig Counts Drop Again as Spring Break Up Gets into High Gear

For the week ending March 14, Baker Hughes reported that the Western Canadian gas-directed rig count fell four to 60 (blue line and text in left hand chart below), 19 less than one year ago and the lowest since the start of the year.

Project Bankability, Policy Uncertainty at Center of Clean-Energy Discussions at CERAWeek

Concerns around the bankability of clean-energy projects, driven by perceived risks and regulatory uncertainty, emerged as a major theme during the annual CERAWeek conference in Houston.

Northeast Gas Demand Declines, But Unaffected by Short-Lived Export Tax

Demand for natural gas in the Northeast fell last week as the weather got warmer in anticipation of the start of spring. Overall Northeast demand averaged 24.2 Bcf/d for the week ended March 11, down 3.1 Bcf/d from the prior week.

Tariff Tango Between U.S. and Canada

Well, here we go again. Just when it looked like the U.S. and Canada might sidestep a full-blown trade war over energy, things took another turn.

Whitecap Resources and Veren to Merge and Create Canada’s Seventh Largest Oil & Gas Producer

On March 10, Canada’s Whitecap Resources Inc. and Veren Inc. announced an all share based transaction valued at C$15 billion ($~10.4 billion) to merge the two companies and create Canada’s seventh largest oil and natural gas producer by production volume.

Propane Inventories Fall by 3.44 MMbbl, Week's Largest Drop in Last 10 Years

The EIA reported total U.S. propane/propylene inventories had a withdrawal of 3.4 MMbbl for the week ended March 7, which was more than industry expectations of 1.6 MMbbl and the average draw for the week of 1.2 MMbbl. This marks the highest draw for the same week in the past decade. Total U.S.

School of Energy - Canada 2025

Frac Spread - Chart Toppers

The frac spread has averaged $3.55/MMBtu so far for March 2025. This is down 19% compared to February 2025 and 35% lower year-over-year.

U.S. LNG Feedgas Demand Riding High Thanks to Plaquemines LNG

Total U.S. LNG feedgas demand averaged 15.22 Bcf/d last week, down 22 MMcf/d from the previous week, with small changes in intake at the terminals.

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