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Tag Archives: Baker Hughes

2015 was a roller coaster ride for energy

It has been a rough-and-tumble ride for the oil and gas industry in 2015 as prices have continued to search for their “bottom” all year. Even as the New Year looms, prices are sitting around $37 a barrel, their lowest spot since the Great Recession of 2009, according to the DailyFX Market News and Analysis website. Oversupply has wracked oil ...

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US rigs down 9 this week to 700

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by nine this week to 700. The Houston firm said Wednesday 538 rigs sought oil and 162 explored for natural gas amid depressed energy prices. A year ago, 1,840 rigs were active. Among major oil- and ...

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US rig count stable this week, holds at 709

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week held steady at 709. Houston’s Baker Hughes said Friday that 541 rigs were seeking oil and 168 explored for natural gas. A year ago, with oil prices more than double current prices, 1,875 rigs were active. ...

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U.S. regulators seek more concessions to OK Halliburton-Baker Hughes deal

Various Halliburton equipment being stored at the equipment yard in Alvarado, Texas June 2, 2015. While giants like Halliburton, Baker Hughes and Schlumberger are weathering the slump by cutting tens of thousands of jobs, small- and medium-sized firms that make up at least half of the nearly $100 billion a year U.S. oil services industry that provides fracking sand and specialized chemicals for fracking have been hit far harder than their large, cash-rich rivals by the downturn, experts say. Picture taken on June 2, 2015. REUTERS/Cooper Neill - RTX1GZSL

Halliburton Co <HAL.N> and Baker Hughes Inc <BHI.N> said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals. The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday, the ...

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US rig count declines by 28 this week to 709

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week declined by 28 to 709. Houston’s Baker Hughes said Friday that 524 rigs were seeking oil and 185 explored for natural gas. A year ago, with oil prices almost double the prices now, 1,893 rigs were ...

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Eagle Ford Shale remains bright spot, adds drilling

While the nation is experiencing a drop in the number of active oil and gas rigs, Eagle Ford Shale remains a bright spot in the industry. A Baker Hughes rig count shows that new drilling in the Eagle Ford Shale rose to 75 active rigs. New drilling fell to 225 rigs in the Permian Basin, but rose to eight in ...

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Oil opens slightly up but stays near August lows after Paris attacks

SINGAPORE – Crude oil futures opened slightly stronger in early Asian trading on Monday following the deadly attacks on Paris, but prices remain near August lows and oil and other commodities are expected to continue under broad pressure in nervous trading. Front-month U.S. crude futures <CLc1> were trading at $40.88 a barrel at 2313 GMT, up 14 cents from their ...

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U.S. shale oil output will be less resilient than gas: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. natural gas production hit a new record in August, despite the deepening slump in gas prices and a fall in the number of rigs targeting gas formations. The failure of gas production to respond to lower prices and a falling rig count has left ...

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