Tag: rigs
US oil rig count up by 21 to a total of 652
Rig count up for tenth straight week The rig count in the United States rose for a tenth straight week, despite pressure on oil prices from rising US production and global crude inventories, according to the weekly report issued by Baker Hughes on Friday. Drillers added 21 oil rigs in the week ending March 24, […]
State Senator: ‘Oil/gas development in Ohio off to a great start’ in 2017
Ohio’s current rig count stands at 20, which is a vast improvement over the lows of last year By Jackie Stewart, EnergyInDepth 2017 is off to a truly amazing start when it comes to shale-related news for the Buckeye State. Week after week we are hearing positive news about investment and job creation coming to […]
US natural gas prices caught in the crossfire: Kemp
US rigs drilling for oil is up by 149 or 37% since late May, adding extra volumes of gas to market By John Kemp LONDON, Oct 28 (Reuters) – US natural gas prices are caught in the crossfire between warmer-than-normal weather and a structurally tightening supply-and-demand balance. Working gas stocks in underground storage rose by 73 billion cubic […]
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. […]
Chevron moving away from large projects, eyeing Permian Basin tight-oil plays
With approximately 2 million net acres, Chevron is largest net acreage holder in the Permian Basin With billions already spent on large scale investments, Chevron’s re-focusing 2016 capital spending toward tight plays like the Permian Basin that are shorter-cycle, lower cost, and less risky. “We’re completing major projects that have been under construction for several years. This […]
Shale oil production in Bakken, Eagle Ford little changed in Dec.
“It is survival of the fittest: the best and most efficient rigs and crews remain standing on the shale field.” Oil production from key shale formations in North Dakota and Texas dropped slightly in Dec. vs. Nov., according to Platts Bentek. Oil production from the Eagle Ford shale basin in Texas was relatively unchanged in Dec., […]
Basic Energy reports major decline in rig, truck services
Heavy snowfall in the Permian Basin, Oklahoma reduced utilization rates in Dec. Fort Worth, Texas-based Basic Energy Services, Inc. is feeling the pinch of low oil and gas prices, as rig and fluid service truck utilization rates fell further at the end of 2015., the company announced Tuesday. Basic Energy’s well servicing rig count remained unchanged […]
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