U.S. Rig Count Hits 620: Down 157 from Last Year
Explore the significant decline in the U.S. drilling industry with the latest figures from Baker Hughes.
Source: oilprice.com
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Analysts: Permian Basin Rigs Plummeted on Record Upstream M&A
A land grab for top-quality drilling locations fueled record Permian Basin M&A activity in 2023. To preserve inventory, E&Ps are radically slashing drilling activity on their new assets, East Daley Analytics reports.
Source: hartenergy.com
U.S. Drillers Cut Drilling Activity Amid Stabilizing Oil Prices
The total number of active drilling rigs in the United States fell by 2 this week after climbing by 10 over the course of the last four weeks
Source: oilprice.com
Why Are Oil And Gas Production Rising When Rig Counts Are Falling?
The number of rigs drilling for oil and gas is falling. Yet, the U.S. is poised to set new oil and natural gas production records this month. This article explains why.
Source: forbes.com
Oil gets a lift from upbeat US Jobs Report
Although the Nonfarm Payroll number was roughly within the benchmark of estimates, printing 199,000 above 183,000 forecasted. It is the unemployment rate decline from 3.9% to 3.7% which is taking away all the attention, and which commodity traders now see as a possible pick up in demand for energy in the coming quarter.
Source: fxstreet.com