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U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 585 in the week …
U.S. Drillers Cut Oil and Gas Rigs for Fourth Time in Five Weeks – Baker Hughes Read More »
U.S. energy firms this week resumed cutting the number of oil and natural gas rigs after adding rigs last week, with the count falling for a fifth week in six, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, …
U.S. Drillers Cut Oil and Gas Rigs for Fifth Week in Six, Baker Hughes Says Read More »
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since late June, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell …
U.S. Drillers Cut Oil and Gas Rigs for Third Week in a Row, Baker Hughes says Read More »
U.S. energy firms this week cuts oil and natural gas rigs for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 586 in the week to Aug. 16. Baker …
U.S. Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks – Baker Hughes Read More »
HOUSTON, (Reuters) – An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. …
New Drilling Technology to Put Billions of Barrels of Oil in Reach Read More »
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year. Producers are extending their wells to as much as three miles, squeezing …
U.S. Shale Companies Produce More Crude Using Fewer Rigs Read More »
Helmerich & Payne’s planned takeover may be a sign of things to come. US shale drilling activity appears to have peaked. The number of operating onshore oil rigs is the lowest since 2021, a result of industry consolidation and tighter spending as companies return more profits to shareholders. That presents a challenge for the country’s oil-field contractors. …
Middle East Oil Gives U.S. Drillers an Opportunity for Growth Read More »
By Reuters (Reuters) – Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. …
Baker Hughes Sees Lower North America Activity; Bets on Foreign Demand Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose …
A federal court in Alaska overturned on Tuesday night an oil and gas lease sale that had been mandated by the Biden administration’s signature climate law as part of a political compromise, on grounds that the U.S. government violated the law when holding the sale. This ruling affects a lease sale held in December 2022 …
U.S. Court Overturns Alaska Oil Lease Sale in a Win for Environmentalists Read More »
