Frac Spread Counts To Continue Steady Rise As Oil Market Rebalances
HOUSTON–The U.S. completion market has seen a robust recovery off the bottom in 2020, with frac spreads leading the charge higher. We believed that companies wanted to limit 2020 decline curves at 10%-15% (final was about 13%), making it easier to stem declines in 2021 and get back to stable growth.
Big Oil and the energy transition: Can profitability be sustained?
BP joined rivals Shell, Chevron and TotalEnergies in rewarding investors with share buybacks last week as rebounding crude-oil prices carried earnings and cash flow to pre-pandemic levels.
Oil Slumps as Market Ignores U.S. Draw to Focus on UAE `No-Deal`
OPEC+ sources, speaking anonymously, told the media on Wednesday that the standoff over August production quotas between the United Arab Emirates and Saudi Arabia had been resolved as the two had apparently reached a deal.
A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence of a rebound in global economic activity gains momentum. However, there are plenty of bearish factors that remain in oil markets that analysts would do well not to overlook.
Oil And Gas Rig Count Jumps As Oil Nears 3-Year High
The number of oil and gas rigs in the United States is up 5 this week, according to Baker Hughes, with the total rig count holding fast at 475, which represents an increase of 212 rigs this year.
Lower 48 E&Ps Working Down DUC Count as Development Looks to Accelerate
U.S. oil and gas producers have held the line on capital spending and concentrated on completing wells rather than costly new development, the Energy Information Administration (EIA) said.
Oil Rig Count Falls As U.S. Drillers Exercise Caution
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week, with the total rig count holding fast at 470 as U.S. drillers boast more than 200 additional rigs this year.
The Commodities Feed: Nuclear deal remains elusive
Despite downward pressure on much of the commodities complex last week following the FOMC meeting, oil finished the week on a relatively strong footing, and in fact, still managed to settle higher on the week.
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 470 as U.S. drillers boast more than 100 additional rigs this year.
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell this week, bringing the total rig count to 456—still a more than 100-rig gain since the start of the year.