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Forbes used the Enverus Daily Rig Count as one example: On Sept. 1, 2020, that metric showed the number of active drilling rigs in the United States was near its all-time low of roughly two hundred eighty—but today, that figure has surged to four hundred sixty active and working rigs. That represents a whopping 67 percent increase in only half a year. Moreover, the Primary Vision count of active U.S. frac spreads had recovered to one hundred seventy-five as of Feb. 12, more than doubling the eighty-five seen on August 28 last year. However, that plummeted to forty-one active spreads during ...

Here is a preview of what to watch in the oil and gas markets this week. (The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) Fallout from the recent Texas freeze, tight petrochemical feedstocks, and the loosening of coronavirus restrictions in the United States should contribute to a better understanding of natural gas demand in the months to come, according to two of Rigzone’s regular market-watchers. Read on for their explanations, along with other insights, in this installment of what...

The Next U.S. Oil And Gas Boom Suddenly Looms On The Horizon The history of the oil and gas business in the United States is that every time the “experts” all line up to declare it to be dead, it finds a way to come roaring back. This scenario has played itself out at least half a dozen times across my own 42-year career in the business or writing about it. Well, guess what:It appears to be happening again. I was about to say that it appears to be about to happen again, but the truth is that the domestic oil and gas industry has already staged a significant comeback from the depths of its...

The US oil and gas rig count grew four to 461 in the week ending Feb. 17, rig data provider Enverus said, despite a wave of bitterly cold, icy weather across the country that froze wellheads and caused widespread power outages temporarily shutting in as much as 4 million b/d of crude output. Rigs chasing ...

Fracking Ramps Back Up As Crude Oil Becomes A Hot Commodity Again The slow but steady growth seen by the U.S. oil and gas industry throughout the final four months of 2020 intensified in January, as oil prices saw double-digit increases. Since January 1, the price for West Texas Intermediate has risen from $48.52 to over $58 as of this writing on February 9, a gain of more than 20%. According to Otavio Costa, a portfolio manager at Crescat, this is the strongest year-to-date performance for crude oil prices in the last 30 years. The stronger price scenario has, as it generally does, led to ri...