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Ex. SEC-23-014 Order Primary source read

Director's Cut (May 15, 2020; March 2020 production data)

Director's Cut, May 15, 2020

NDIC Department of Mineral Resources, Oil and Gas Division · North Dakota (Sector regulator)

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The COVID Project

The record

Jurisdiction
North Dakota
Level
Sector regulator
Authority
As SEC-23-013
Issued
2020-05-15 May 15, 2020
Effective
n/a (read as 2020-05-15)
End
n/a (read as 2020-06-30)
In force
May 15, 2020 to June 30, 2020
Quarters
2020 Q2
Limitation types
Other
Addressees
  • the Commission; operators; the public
Functions reached
  • DR
  • SV
  • EX
  • WF
Collection
Mining, Oil and Gas, and Energy Services SEC-23

Operative words

Rig Count 54... Waiting on completion 59... Industry projected 50-75% reduction in rig count April - June and the count is already down 78% with 4-5 more rig [releases expected]. The number of well completions has been very volatile and has dropped dramatically since March as the number of active completion crews decreasing from 25 to 1. Lower crude oil price has put extreme downward pressure on rig and completion crew counts. Unemployment [claims recited].... liquid fuel demand is expected to bottom out in May 2020.

Enforcement

n/a

Notes

'active completion crews decreasing from 25 to 1': the regulator's measure of the completion-services collapse in the Bakken in the second quarter of 2020.

Retrieval note

342508 bytes.

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.