Offshore activity continues its climb By Richard Rostad, analyst, Oil & Gas 360 International drilling activity increased slightly in February, according to the latest edition of Baker Hughes’ International Rig Count. A net three international rigs came online in the month, after falling by one in January. With 1,027 rigs running, the international rig count is at the highest level
Texas, Oklahoma and New Mexico are down 61 rigs since November By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell in the U.S. this week, the second drop in a row according to Baker Hughes Weekly Rig Count. A net nine rigs came offline in the past week, bringing the national rig count to 1,038 rigs. Eleven land-based
Rig counts fall in top four states By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell in the U.S. and Canada this week, as producers continue to adapt to lower oil prices, according to Baker Hughes, which tracks drilling activity every week. A net four rigs shut down in the week, leaving 1,047 rigs active in the U.S.
Permian expected to hit 4 MMBOPD in March By Richard Rostad, analyst, Oil & Gas 360 EnerCom has released its latest Effective Rig Count, linking the state of drilling activity and the reported production from the major shale basins. Oil and gas companies have significantly improved efficiencies during and after the downturn, and each rig in the major shale basins is
U.S. drilling up two, Louisiana adds four By Richard Rostad, analyst, Oil & Gas 360 Drilling activity rose in the U.S. this week, marking the second week of modest increases in a row, according to Baker Hughes. A net two rigs began drilling in the U.S. in the week, bringing the national total to 1,051 rigs. Land activity declined by
Overall Rig Count Up Four By Richard Rostad, analyst, Oil & Gas 360 Drilling activity expanded in the U.S. this week, partially making up for the decline seen last week, according to Baker Hughes. A net four rigs began drilling in the country, a change from the 14 that shut down last week. There are now 1,049 rigs active in
Overall rig count falls by two By Richard Rostad, analyst, Oil & Gas 360 International drilling activity declined slightly in January, but remains near post-downturn highs, according to Baker Hughes. A net two rigs came offline in January, bringing the international total to 1,023 rigs. Operations shifted significantly in favor of offshore drilling, as nine land-based rigs have shut down
By Richard Rostad, analyst, Oil & Gas 360 The Q4 2018 downturn in oil prices has made upcoming U.S. crude oil production growth a major uncertainty for markets. Companies have been announcing plans to scale back drilling activities for 2019, but what will the overall effect of the reduction in drilling be? How much can activity drop before a lack
New Mexico could overtake Oklahoma as No. 2 Drilling activity resumed its fall this week, more than wiping out the increase seen last week according to Baker Hughes. A net 14 rigs shut down in the week, leaving 1,045 rigs operational. Thirteen land-based rigs came offline, while one offshore rig stopped drilling and inland waters activity stayed flat. The rise
New Mexico reaches all-time high Drilling activity increased this week, partially reversing last week’s decline according to the latest edition of Baker Hughes Rig Count. A net nine rigs came online in the week, bringing the national total to 1,059. This is the largest in over two months, but only partly offsets the 25-rig drop seen last week. Nine land-based
EERC drops sharply EnerCom has released its latest Effective Rig Count, linking the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count dropped by 83 in December, meaning the Effective Rig Count now stands at 2,762. This means that the new production in December would have required 2,762 rigs from January 2014
Rigs record largest drop in nearly three years U.S. drilling activity is responding to the recent decline in oil prices, with drilling activity dropping sharply in the week according to Baker Hughes. A net 25 rigs came offline in the U.S. this week, the largest single-week drop since early 2016. There are now 1,050 rigs active in the country, the
