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.
Starting today, U.S. oil will be part of the Brent crude basket that underlies the world’s most traded benchmark contract.
The total number of total active drilling rigs in the United States fell by 7 this week, according to new data from Baker Hughes published Friday, after rising by 2 last week.
One of my 2023 energy predictions was “Total U.S. oil production will again rise, and set a new annual production record.” The previous annual record was set in 2019 at 12.3 million barrels per day (bpd), and by the end of 2022 monthly production was just about back to that level following the devasting Covid-19 impact on the industry in 2020.
In the next few weeks, the U.S. government plans to send Mexico an ultimatum, with the intention of breaking the deadlock in talks around Mexican President López Obrador’s (AMLO) energy policy. The dispute centers on the 2021 proposed amendments to Mexico’s Electricity Industry Law, which give priority to their own Federal Electricity Commission (CFE) over […]