Tag: Oil Exploration
Global gas, oil discoveries drop to 70-year low: Rystad Energy
Gas, oil discoveries drop reinforces supply shortage forecast By Ron Bousso LONDON, Jan 18 (Reuters) – Gas and oil discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil prices. The decline in discoveries means companies such as Exxon Mobil […]
Hess to spend more on exploration and production this year
Hess increase first sign the shale industry will boost spending this year Jan 12 (Reuters) – Hess Corp budgeted $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that the shale industry will spend more in 2017 after years of declines. Shares […]
Most major conventional oil projects at risk at $50 oil price: WoodMac
Spending on oil projects exploration down over $1 trillion since beginning of slump LONDON, July 13 (Reuters) – Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie said in a report on Wednesday. Global upstream and exploration spending has already dropped by […]
US rig count down, despite $50 crude: Baker Hughes
Rig count at lowest level since Oct. 2009 By Scott DiSavino May 27 (Reuters) – U.S. oil drillers cut rigs for a ninth week in the last 10, energy services company Baker Hughes Inc said on Friday, even as crude prices this week tested a seven-month high at $50 a barrel. Prices were on track […]
Rig count down in US and Canada
Rig count by Baker Hughes HOUSTON _ Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 30 this week to 541. The Houston company said Friday 439 rigs sought oil and 102 explored for natural gas amid depressed energy prices. A year […]
US rig count continues to fall, this week down by 18
US rig count down by 17 oil, 1 gas rig HOUSTON _ On Friday, Baker Hughes released its weekly rig count which showed the number of rigs searching for oil and gas in the United States as well as Canada had dropped. For the fourth consecutive week, the number of rigs in the US had […]
Connect
Connect with us on the following social media platforms.