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Title : Western Canadian Select At 10-Year Low; $45/Bbl Discount To WTI -- October 10, 2018
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Western Canadian Select At 10-Year Low; $45/Bbl Discount To WTI -- October 10, 2018

Flashback: Wahpeton Indian School beatings, April 24, 1999. From the AP. 

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Back to the Bakken

Wells coming off the confidential list today -- Wednesday, October 10, 2018 --
34138, conf, WPX, Raptor 13-24HY, Reunion Bay, no production data, 
33328, conf, XTO, Dakota Federal 42X-36H, Bear Den, no production data, 
33116, conf, CLR, Bailey 9-24H2, Pershing, a very nice well; 37K one full month;
32125, conf, CLR, Burr Federal 1-26H1, Sanish, a very nice well; 36K one full month;
32022, conf,  Hess, CA-Stangeland-155-95-2128H-4, Capa, no production data, 
26282, conf, Bruin E&P, Fort Berthold 147-94-1B-12-5H, McGregory Buttes, no production data, 
26280, conf, Bruin E&P, Fort Berthold 147-94-1B-12-4H, McGregory Buttes, no production data, 

Active rigs:

$74.87→	10/10/2018	10/10/2017	10/10/2016	10/10/2015	10/10/2014
Active Rigs	65	57	32	68	190

RBN Energy: Western Canadian Select (WCS) crude topples to 10-year low.

The price of northeastern Alberta’s key crude oil benchmark, Western Canadian Select (WCS), has been dropping like a rock.

Last week, the heavy, sour blend of crude fell to a $45/bbl discount against U.S. benchmark West Texas Intermediate (WTI) — the biggest differential in at least 10 years.

With an unplanned summertime outage at a Syncrude upgrader now over, Alberta production rising and pipeline takeaway capacity static — at least for now — the value of Canada’s crude may have even bleaker days ahead, despite a recent global rally in oil prices.

Today, we explain why Western Canada’s oil producers are facing the prospect of mile-wide spreads for months to come.

Pipeline capacity constraints out of prolific oil-producing regions have played an oversized role in North American crude pricing this year. Not only are takeaway constraints an issue in Alberta, but they’ve also wreaked havoc in the Permian Basin in West Texas. Those two regions, West Texas and Alberta have a few things in common — weather not included — and the lament of limited crude pipeline space to match growing output is one of them. Without enough capacity to remove oil from the producing market, the value of the commodity suffers as supplies pile up.

One takeaway: if western Canadian oil companies can still operate (and make a profit") at these prices, imagine what Bakken operators are doing. Just saying.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship changes based on anything you read here or think you may have read here. 

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