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Tag Archives: rig count

Oil prices could force over 500 rigs out of service

With oil prices nearly slashed in half from earlier 2014 prices, analysts are predicting that up to 550 drilling rigs will remain out of commission over the next few months. Signs of a slowdown have rolled in quickly since last November when members of the Organization of the Petroleum Exporting Countries (OPEC) refused to cut any of their oil and ...

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Rig count drops in the Permian

The Permian Basin’s rig count dropped by 20 to 548 last week, according to Baker Hughes weekly rig count.  District 8, which includes Midland County, is down 19 rigs to 316. Statewide the Texas rig count was down 24 rigs as of last week, bringing the total to 872. In Texas’ Eagle Ford shale the rig count dropped by two, ...

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US rig count down 27 to 1,893

pumpjack

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by 27 this week to 1,893. The Houston firm said Friday in its weekly report 1,546 rigs were exploring for oil and 346 for gas. One was listed as miscellaneous. A year ago there were 1,782 active ...

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Marcellus production rates expected to grow in November

(Photo: Ruhrfisch via Wikimedia Commons)

The U.S. Energy Information Administration has predicted that production in the Marcellus shale region could exceed 16 billion cubic feet per day in November, reports the Pittsburgh Business Times. The latest projection is a revision of a previous estimate which stated production would surpass the mark this month. In September, the EIA anticipated Marcellus production would reach 16.06 billion cubic ...

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RRC’s monthly statistics show Texas still on top

Zachary Toliver | Shale Plays Media The latest rig count reported from the Railroad Commission of Texas (RRC) revealed that 48 percent of all active land rigs in the United States now reside in the Lone Star State. As of September 19, 898 rigs were operating in Texas. According to the RRC, in the past 12 months, reported production in ...

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Texas breaks 2.16 million barrels a day with room to grow

Zachary Toliver | Shale Plays Media To no one’s surprise, oil production is still booming in the state of Texas. The newest numbers from the Railroad Commission of Texas (RRC) portray the Lone Star State as still number one in the petroleum business. Oil production in Texas has now reached an average of 2,157,001 barrels a day. This is not ...

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Texas is home to one-fourth of all drilling rigs worldwide

John Deede | Shale Plays Media Google+ According to data from Baker-Hughes, the state of Texas is currently using one-quarter of all the drilling rigs in existence. Texas is operating with 889 drilling rigs, with just below half of the 1,873 nationwide. Globally, there are currently 3,371 rigs operating, making Texas’s global share of the rigs 26.4%. Source for data:  Baker-Hughes – International Rig ...

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