RE:RE:RE:RE:Time to add?No bad questions dude.
Lower wti prices may lower amount of rigs drilling plays that have both oil and associated gas production. Lots of montney oil wells still produce 300-500 boe eq natural gas.
Less wells need to be drilled in North America...period.
220 rigs working in western Canada and that is too much for amount of wells that payback under 1 year being drilled.
montny wells that do 60k barrels of oil and 0.3-0.5 bcc in first year don't look so hot at 60 wti-65 wti band.
it will take less drilling to turn this around.
Like bc has over 20 rigs drilling for ng right now and that is too even with lng opening.
next may this will be lower.
every rig drilling pads for a major that works year round is going to produce a lot of ng.
10-12 rigs is all bc needs to stay same