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Tag Archives: Baker Hughes

EIA cuts 2015, 2016 U.S. crude oil production growth forecasts

NEW YORK – The U.S. government on Tuesday lowered its 2015 and 2016 crude oil production growth forecasts amid lower prices and fewer active drilling rigs. In its short term energy outlook, the U.S. Energy Information Administration lowered its 2015 crude oil production growth forecast to 530,000 barrels per day (bpd) from 550,000 bpd, while 2016 growth was seen at ...

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UW receives $1 million grant for oil and gas research

LARAMIE, Wyo. — An oilfield services company is giving the University of Wyoming $1 million to support research on unconventional oil and gas reservoirs in the state. The money provided by Houston-based Baker Hughes Inc. will be used over a three-year period by the UW School of Energy Resources. Baker Hughes has previously partnered with the university on energy research. ...

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Permian drops one rig amid renewed optimism in drilling

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The Permian Basin lost a single rig in the past week, just as major producers in the region began to express new confidence in the prospects of starting to drill more if oil prices continue to climb upward. But that optimism, after weeks of diminishing activity, layoffs and a rig count less than half of what it was at this ...

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US oil and natural gas rig count drops by 11 to 894

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 11 this week to 894. Houston-based Baker Hughes said Friday that 668 rigs were seeking oil and 221 explored for natural gas. Five were listed as miscellaneous. A year ago, with oil prices nearly double the ...

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US oil and natural gas rig count drops by 27 to 905

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 27 this week to 905 amid depressed oil prices. Houston-based Baker Hughes said Friday that 679 rigs were seeking oil and 222 explored for natural gas. Four were listed as miscellaneous. A year ago, 1,854 rigs were active. ...

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Baker Hughes expects falling rig count to weigh on 2nd qtr

Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects “unfavorable market conditions” to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services. The comments echoed larger rival Halliburton’s warning on Monday of pricing pressure hurting oilfield services in North America and challenges in international operations. ...

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US oil and natural gas rig count drops by 34 to 954

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Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices. Houston-based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Three were listed as miscellaneous. A year ago, 1,831 rigs were active. Among ...

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U.S. shale boom nears turning point: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Production is expected to decline in the Bakken, Niobrara and Eagle Ford plays next month. Only the ...

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