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Tag Archives: rig count

North Dakota oil production up 12,500 barrels daily in March

BISMARCK, N.D. — North Dakota oil drillers produced an average of about 1.19 million barrels of oil a day in March. The Department of Mineral Resources says the March production was up about 12,500 barrels a day from February’s average. Western North Dakota’s oil patch had a record 12,430 producing wells in March, up from 12,199 in February. The state ...

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Permian drops one rig amid renewed optimism in drilling

jack

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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Service companies keep cutting as rigs keep falling

oil derrick

Permian Basin producers again dropped drilling rigs this week, Baker Hughes reported Friday, as service companies announced another round of job cuts. Baker Hughes counted 12 fewer rigs in the Permian Basin, leaving 246 drilling for oil and gas in the region. About 74 percent drill horizontal wells as producers focus on core areas. Nationally, the oil and gas rig ...

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America’s fracklog could be the next bump after the bust

America has strolled into 2015 claiming the title of the world’s top producer of petroleum and natural gas hydrocarbons. But thanks to low oil prices, holes are drilled but uncompleted, and according to a new analysis, America’s fracklog has skyrocketed. A recent Bloomberg Intelligence analysis found that the number of wells waiting to be hydraulically fractured, known as the fracklog, ...

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US oil and natural gas rig count drops by 22 to 932

A fracking rig sits in an farmers field in Colorado

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 22 this week to 932 amid depressed oil prices. Houston-based Baker Hughes said Friday 703 rigs were seeking oil and 225 explored for natural gas. Four were listed as miscellaneous. A year ago, 1,861 rigs were active. Among ...

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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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