The COVID Project
The record
- Jurisdiction
- North Dakota
- Level
- Sector regulator
- Authority
- N.D.C.C. ch. 38-08; monthly Director's Cut report to the Commission
- Issued
- 2020-04-14 Apr. 14, 2020
- Effective
- n/a (report) (read as 2020-04-14)
- End
- n/a (read as 2020-06-30)
- In force
- Apr. 14, 2020 to June 30, 2020
- Quarters
- 2020 Q2
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- the Commission; operators; the public
- Functions reached
- DR drilling and completion crews
- EX
- SV
- WF ('Unemployment' recited)
- Collection
- Mining, Oil and Gas, and Energy Services SEC-23
Operative words
Rig Count 55... Waiting on completion 75... The drilling rig count was stable in the mid 60's 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
Notes
The regulator's own contemporaneous account of the demand collapse; the Commission's Mar. 24, 2020 waiver direction (SEC-23-028) preceded it.
Retrieval note374973 bytes; facts and circumstances, not an order.