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North America Cuts 35 Rigs Week on Week

Week on week, the U.S. land rig count, offshore rig count, and inland water rig count remained unchanged, the count highlighted. The U.S. gas rig count decreased by one, its oil rig count increased by one, and its miscellaneous rig count remained unchanged, week on week, the count showed. Baker Hughes’ count revealed that the U.S. horizontal rig count decreased by one week on week, while the country’s directional rig count increased by one and its vertical rig count remained unchanged during the period.

North America Adds Rigs WoW

Week on week, the U.S. land rig count increased by two, the country’s offshore rig count decreased by one, and its inland water rig count remained unchanged, the count highlighted. The U.S. oil rig count dropped by two, its gas rig count increased by three, and its miscellaneous rig count remained unchanged, week on week, the count showed. Baker Hughes’ count revealed that the U.S. horizontal rig count increased by three week on week, while the country’s directional and vertical rig counts each decreased by one during the period.

North America Finally Breaks Rig Loss Run

 North America’s total rig count remained unchanged week on week, according to Baker Hughes’ latest North America rotary rig count, which was published late Friday. Although the U.S. dropped one rig week on week, Canada added one rig during the same timeframe, leaving the total North America rig count at 784, Baker Hughes’ count outlined. […]

Record-High U.S. Production Weighs on Natural Gas Prices

Record temperatures in Europe and North America extended the gas storage refill season, leading to high inventories.
Natural gas demand decreased due to warmer weather, an industrial slowdown in Europe, and record U.S. production and LNG exports.
Futures and options market winter premiums have diminished, contributing to a drop in Europe’s natural gas prices and bearish trends in the U.S. and Asian markets.