{"id":"SEC-23-013","kind":"order","level":"sector-regulator","jurisdiction":"North Dakota","state":"ND","metro":"","industry":"23","agency":"","eco":"","issuer":"North Dakota Industrial Commission, Department of Mineral Resources, Oil and Gas Division (Director Lynn D. Helms)","authority":"N.D.C.C. ch. 38-08; monthly Director\u0027s Cut report to the Commission","instrument":"Director\u0027s Cut, Oil and Gas Division (Apr. 14, 2020; February 2020 production data)","title":"Director\u0027s Cut, April 14, 2020","dateIssued":"2020-04-14","effective":"n/a (report)","end":"n/a","startDate":"2020-04-14","endDate":"2020-06-30","quarters":["2020Q2"],"types":["OTHER"],"addressees":["the Commission; operators; the public"],"clause":"Rig Count 55... Waiting on completion 75... The drilling rig count was stable in the mid 60\u0027s for the first half of 2019. Based on oil price, capital availability, [industry] projects 50-75% reduction in rig count April - June. The number of well completions has begun to fall first due to weather, but now due to oil price. Lower crude oil price has put extreme downward pressure on rig and completion crew counts.... Drilling permit activity has slowed down due oil price. Operators are attempting to maintain a permit inventory of approximately 12 months, 25-30 experienced drilling rig crews, and 5-6 experienced completion crews.... liquid fuel demand is expected to bottom out April - May 2020.... March OPEC + Russia discussions of further production restrictions due to the Corona virus effect on demand ended in abandonment of the 3-year existing agreement.","enforcement":"n/a","functions":["DR drilling and completion crews","EX","SV","WF (\u0027Unemployment\u0027 recited)"],"notes":"The regulator\u0027s own contemporaneous account of the demand collapse; the Commission\u0027s Mar. 24, 2020 waiver direction (SEC-23-028) preceded it.","sourceUrl":"https://www.dmr.nd.gov/oilgas/directorscut/directorscut-2020-04-14.pdf","snapshot":"","fileExists":true,"fileBytes":374973,"grade":"primary","character":"","description":"","collection":"SEC-23","url":"/library/SEC-23-013","exhibitUrl":"/exhibit/SEC-23-013","citation":"North Dakota Industrial Commission, Department of Mineral Resources, Oil and Gas Division (Director Lynn D. Helms), Director\u0027s Cut, Oil and Gas Division (Apr. 14, 2020; February 2020 production data) (Ex. SEC-23-013)","stateName":"North Dakota","related":["SEC-23-028"]}