Crude oil inventories in the United States decreased by 3.9 million barrels during the week ending July 11, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 422.2 million barrels according to government data, which is still 8% below the five-year average for this time of year.
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 1-rig decrease in the week prior.
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 10-rig decrease last week, and a 6-rig decrease the week before that.
The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week.
The total rig count in the US fell by 6 to 578 rigs, according to Baker Hughes, down 25 from this same time last year.
The total number of active drilling rigs for oil and gas in the United States slipped this week, according to new data that Baker Hughes published on Friday, following a 2 rig increase in each of the two weeks prior.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose to 214 during the week of February 28, compared to 210 in the week prior, and up from 201 at the beginning of the year. The latest data reflects the highest frac spread count this year
There was a 1-rig bump in drilling activity in the Permian Basin, landing at 305 in the most prolific basin—a figure that is 10 fewer than this same time last year. The count in the Eagle Ford saw no change to the number of active drilling rigs, hovering at 48. Rigs in the Eagle Ford are 4 below where they were this time last year.
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after a 2-rig increase in the week prior.
U.S. producers, mainly shale companies which led a fracking revolution that unlocked vast new supplies of crude from rock, are pumping record amounts of oil, but using fewer rigs to do it after the COVID-19 pandemic crushed prices and spurred a boom in company mergers and new efficiencies.
Team Trump is preparing to make sweeping changes to the U.S. energy sector on day one. Boosting U.S. oil and gas drilling and accelerating permits for domestic energy infrastructure and LNG exports are expected to be top priorities for the new administration.