U.S. Oil Rig Count Posts Double Digit Gains As Oil Prices Rise
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 13 this week, adding another bearish element to the market after OPEC+ announced it would ease up on its production cut restrictions.
Producers plan more from less despite rising cash flow
Cash generation, not higher output, is the mantra for US shale oil producers, but further cost-cutting and productivity gains are expected to underpin growth.
Oil drilling activity is creeping up but prices have dipped
The continued strength of oil prices has seen a steady increase in US oil drilling with the Permian shale oil basin seeing the lion’s share of activity.
Oil managed to claw back some of its losses on Friday, with ICE Brent settling almost 2% higher on the day. Despite this, oil has still seen its worst week this year, as concerns grow over a flaring up in Covid-19 cases across Europe.
In the mid-2010s it became common to say that natural gas would be a bridge fuel to a zero-carbon future, in which solar, wind and other renewable technologies provide all of our energy without any carbon dioxide emissions to worsen climate change.
America Is Still an Energy Superpower (And An Oil and Gas Boom Is Coming)
It appears that it really is difficult to keep the oil and gas business in the United States down and out—because it always rallies like a scintillating fourth-quarter comeback.
Mix of Factors Set to Clarify Natural Gas Demand Outlook
Fallout from the recent Texas freeze, tight petrochemical feedstocks, and the loosening of coronavirus restrictions in the United States should contribute to a better understanding of natural gas demand in the months to come, according to two of Rigzone’s regular market-watchers.
The Next U.S. Oil And Gas Boom Suddenly Looms On The Horizon
The history of the oil and gas business in the United States is that every time the “experts” all line up to declare it to be dead, it finds a way to come roaring back.
U.S. crude oil production in 2020 fell for first time since 2016
Crude oil production in the United States increased in 8 of the past 10 years. In 2020, however, responses to COVID-19 contributed to the rapid decline in demand for refined petroleum products.
Oil prices have staged an extraordinary rally in the last three months, rising by 50%. Biden’s presidency, the vaccine rollout, a weak dollar, low interest rates, no inflation, and hopes of more stimulus in the future have all played a part in sending oil prices higher.
A Giant Flaw in Texas Blackouts: It Cut Power to Gas Supplies
When the Texas power grid was on the brink of collapse and its operator plunged thousands into darkness, it didn’t make an exception for the oil and gas field.
Oil Rig Count Ends Twelve Week Streak Of Gains As Oil Prices Slip
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week. The total number of active oil and gas rigs in the U.S. hangs at 397—or 394 fewer than this time last year.
Freeze Shuts Fracking Down in Biggest U.S. Shale Basins
Fracking in America’s biggest shale basins has gone dark as 70% of U.S. completion crews wait for an historic freeze to thaw out before they can return to work.
Liberty Oilfield Services: Activity Rebound Drives Quarterly Beat, But The Brighter Outlook Is The Real Highlight
Liberty (NYSE:LBRT) is a upper tier pressure pumper that recently closed a transaction with Schlumberger's (SLB) OneStim segment. Please see our last quarterly note here.
At the start of 2021, RPC, Inc. (NYSE:RES) is moderately optimistic about the energy sector scenario change. In Q4, its operating margin improved significantly as some industry indicators exhibited a likely upturn in the near to medium term.
Not Just Inflation: Supply Chain Problems Will Persist in 2022
There seems to be nothing new about this new year. We have an even worse wave of Covid-19 sweeping the globe, with governments reimposing restrictions, flights being canceled, and health infrastructure coming under pressure. Yet what is new is a realization that inflation isn’t transitory and that there is a need to raise interest rates—which the U.S. Federal Reserve will do, faster than previously thought.
US oil, gas rig count leaps 15 on week to 722, but most big basins just add one: Enverus
The US oil and gas rig count leaped 15 to 722 on the week, energy analytics and software company Enverus said Jan. 13, as E&P operators took advantage of replenished new year capital budgets to resume a brisk pace of rig adds.
Oil prices are rallying aggressively on the back of Saudi Arabia’s surprise cut and optimism over the rollout of vaccines across the world. News of a new strain of COVID19, however, has hurt the prospect of a demand recovery in Europe. The big question now for analysts is what does 2021 hold for oil markets?
US oil, gas rig count rises one on week to 707: Enverus data
The US oil and gas rig count rose by one on the week to 707, energy analytics and software company Enverus said Jan. 6, as the eight largest domestic plays experienced flattish activity in the first days of 2022.
The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus amid several oil disruptions around the globe, including in Libya, Ecuador, and Kazahkstan.