2020.6 OFS – FundamentalEdge Report Preview – [June 2020]

FundamentalEdge Preview Report – June 2020

2020 Production: Shut-ins, DUCs

This month’s issue of FundamentalEdge explores the ongoing supply response to demand destruction caused by the COVID-19 pandemic. 
 
Since the crash in oil prices in March, the rig count has fallen by 670 or 66% (May vs. March). This significant decline implies a dramatic drop in current production.
 
In this report, Enverus will present several additional indicators by basin that help quantify the size of the production decline foretold by this rig count.
 2020.6 OFS – FundamentalEdge Report Preview – [June 2020]