Tag: Rig Count
Oil prices up on increased demand, OPEC deal extension expectations
Oil prices up over 30 per cent since June Oil prices nearly hit levels not seen in over two years on Friday on increased demand and expectations that participants in the OPEC supply cut agreement will agree to extend the deal. By 12:46 p.m. EDT, benchmark Brent had risen by 66 cents to $61.28/barrel and […]
US oil production to increase through end of 2017, setting up record 2018
Forecast based on recent drilling, production and driven largely by WTI crude oil price EIA forecasts that U.S crude oil production will average 9.4 million b/d in the second half of 2017, 340,000 b/d more than in the first half of 2017, according to the U.S. Energy Information Administration. Production in 2018 is expected to […]
US shale oil rebound shakes OPEC
How low can the costs of US shale oil production go? By Ross McCracken, Platt’s Managing editor, Energy Economist Even with oil prices hovering around the $50/b mark, the US rig count has increased rapidly while E&P companies continue to record substantial reductions in well drilling costs. The increase in new well oil production per rig […]
November 2016 American rig count up 36 to 580
Worldwide rig count for November 2016 was 1,678 HOUSTON – Baker Hughes Incorporated announced today that the international rig count for Nov. 2016 was 925, up 5 from the 920 counted in Oct. 2016, and down 184 from the 1,109 counted in Nov. 2015. The international offshore rig count for Nov. 2016 was 211, up 11 from […]
Rig count: US drillers add oil rigs for 21st week in 24 – Baker Hughes
Analysts forecast total oil/gas rig count would average 504 in 2016, 685 in 2017 and 896 in 2018 (Reuters) – U.S. oil drillers boosted the rig count this week for a 21th week in the last 24, as energy firms follow through on plans to add rigs made months ago when crude was still trading over […]
Baker Hughes announces September 2016 rig counts
Worldwide Baker Hughes rig count for Sept. 2016 was 1,584, up 37 from the 1,547 counted in Aug. 2016 HOUSTON – Baker Hughes Incorporated announced the international rig count for Sept. 2016 was 934 down 3 from the 937 counted in Aug. 2016, and down 206 from the 1,140 counted in Sept. 2015. The international offshore […]
US rig count to grow by 30% in 2017 – Platts
Platts rig data expects more than 11,000 US oil & gas wells to be drilled during 2017 On the heels of OPEC’s announcement that its members will voluntarily freeze or reduce oil production, S&P Global Platts says American producers can expect a significant uptick in drilling next year. S&P Global Platts released the Platts RigData U.S. […]
US rig count recovery hinges on $50 oil
Larger E&P firms (e.g. Anadarko, Southwestern Energy, WPX) will likely put more rigs into operation By Scott DiSavino NEW YORK (Reuters) – U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig […]
Baker Hughes announces August rig counts: US up to 481, Canada up to 129
The worldwide rig count for Aug. was 1,547, up 66 from the 1,481 counted in July HOUSTON – Baker Hughes announced the international rig count for Aug. was 937 down 1 from the 938 counted in July, and down 200 from the 1,137 counted in Aug. 2015. The international offshore rig count for Aug. was 228, up […]
July 2016 rig count up 32 from June – Baker Hughes
Worldwide rig count for July was 1,481, up 74 from the 1,407 counted in June Aug 5 (Reuters) – U.S. drillers this week added oil rigs for a sixth consecutive week, according to a closely followed report on Friday, despite crude prices falling to April lows below $40 a barrel this week. Some producers are […]
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