US Rig Count Rises for First Week in Three
U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in crude futures prices to their lowest since the summer of 2017.Drillers added 10 oil rigs in the week to Dec. 21, bringing the total count to 883, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. This was the biggest weekly gain in rig numbers since early November.More than half the total U.S. oil rigs are in the Permian Basin, the country's biggest shale oil formation. Active units there held steady this week at 486…
US Oil Drillers Cut Rigs
U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active rigs after crude prices collapsed in October and November.Drillers cut four oil rigs in the week to Dec. 14, bringing the total count down to 873, the lowest since mid October, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.More than half the total U.S. oil rigs are in the Permian Basin, the country's biggest shale oil formation. Active units there declined by three this week to 486, the lowest since early October.The U.S.
US Oil Drillers Cut Most Rigs Since May 2016
U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the first time in history.Energy companies cut 10 oil rigs in the week to Dec. 7, the biggest weekly decline since May 2016, bringing the total count down to 877, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.More than half the total U.S. oil rigs are in the Permian Basin, the country's biggest shale oil formation. Active units there…
US Drillers Add Rigs for Fourth Week in Five
U.S. energy firms added oil rigs for a fourth time in the last five, keeping the rig count at its highest in over three years even though crude futures were on track to fall for a fifth week in a row to their lowest level since February.Drillers added 12 oil rigs in the week to Nov. 9, bringing the total count to 886, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S. rig count, an early indicator of future output, is higher than a year…
US Oil Drillers Cut Rigs for First Week in Four
The U.S. oil drilling rig count declined this week for the first time in four weeks, although the rig count held close to its highest in over three years as production surges to record highs and some companies forecast even higher output this year.Drillers cut one oil rig in the week to Nov. 2, bringing the total count down to 874, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S. rig count, an early indicator of future output, is higher than a year ago when 729 rigs were…
US Drillers Add Oil Rigs for Third Week in a Row
U.S. energy firms added oil rigs for a third week in a row for the first time since June, keeping the rig count at its highest in over three years, as declining productivity in some shale fields force companies to drill more to keep output growing.Drillers added two oil rigs in the week to Oct. 26, bringing the total count to 875, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.For the month, the rig count rose 12 in October, the biggest monthly increase since drillers added 34 rigs in May.
US Rig Count Rises to Highest Since March 2015
U.S. drillers added oil rigs for a second week in a row this week, raising the rig count to the highest level since March 2015.Drillers added four oil rigs in the week to Oct. 19, bringing the total count to 873, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S. rig count, an early indicator of future output, is higher than a year ago when 736 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.Due to transport constraints to remove oil from the Permian Basin…
US Drillers Add Oil Rigs for First Week in Four
The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks.Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The increase is the biggest weekly gain since mid August.The U.S. rig count, an early indicator of future output, is higher than a year ago when 743 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.Since June…
US drillers add most oil rigs since May
U.S. energy companies this week added the most oil rigs since May as drillers follow though on plans to spend more on exploration and production in anticipation of higher crude prices in 2018 than recent years.Drillers added 10 oil rigs in the week to Aug. 10, bringing the total count to 869, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.That rig count increase occurred desite U.S. crude prices being on track to fall for a sixth week in a row for the first time since August 2015 on worries trade tensions between the United States and China could hurt oil demand.The U.S.
US Oil Rig Count Dips for Second Week in Three
U.S. energy companies this week cut oil rigs for a second time in the past three weeks as the rate of growth has slowed over the past couple of months with recent declines in crude prices.Drillers cut two oil rigs in the week to Aug. 3, bringing the total count down to 859, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.More than half the total oil rigs are in the Permian basin in west Texas and eastern New Mexico, the nation's biggest shale oil field. Active units there held steady at 479 for a second week in a row, the same as in early June and the highest since January 2015.The U.S.
U.S. Rig Count Drops, But E&P Spend Up 13%
U.S. energy companies this week cut oil rigs for a second straight week, and notched the first monthly fall since March.Drillers cut four oil rigs in the week to June 29, bringing the total count down to 858, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. <RIG-OL-USA-BHI>That was the first time drillers cut rigs for two weeks in a row since October 2017. For the month, the rig count decreased by one, its first decline since March.For the quarter, however, the count rose by 61, its biggest gain since the second quarter in 2017, after some big increases in April and May.The U.S.
US Drillers Add Oil Rigs for Third Week in a Row
U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks.Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.That was the ninth time drillers added rigs in the past 10 weeks.The U.S. rig count, an early indicator of future output, is much higher than a year ago when 741 rigs were…
US Drillers Add Oil Rigs for Second Week in a Row
U.S. energy companies added oil rigs for a second week in a row even though crude prices have declined about 7 percent over the past two weeks and analysts do not expect any big changes in the rig count for the rest of the year.Drillers added two oil rigs in the week to June 1, bringing the total count to 861, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.That was the eighth time drillers added rigs in the past nine weeks.The U.S. rig count…
US Oil Rig Count Holds Steady after Weeks of Gains
The U.S. oil rig count held steady this week after rising for six weeks in a row even as crude prices soar to multi-year highs, prompting drillers to extract record amounts of oil, especially from shale.The total oil rig count held at 844 in the week to May 18, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S. rig count, an early indicator of future output, is much higher than a year ago when 720 rigs were active as energy companies have been ramping up production in tandem with OPEC's efforts to cut global output in a bid to take advantage of rising prices.U.S.
US Oil Rig Count Continues Climb
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs.Drillers added five oil rigs in the week to April 27, bringing the total count to 825, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.For the month, drillers added 28 oil rigs in April after cutting two rigs in March. So far this year, the rig count has risen by 78.The U.S. rig count, an early indicator of future output, is much higher than a year ago when 697 rigs were active.
US Drillers Add Oil Rigs for Third Consecutive Week
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices near three-year highs.Drillers added five oil rigs in the week to April 20, bringing the total count to 820, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.More than half the total oil rigs are in the Permian basin in west Texas and eastern New Mexico. Active units there increased by eight this week to 453, the most since January 2015.The U.S.
US Rig Count Makes Biggest Jump in 2 Months
U.S. energy companies added oil rigs for the third time in four weeks as crude prices drifted from a three-year high hit earlier this year amid concerns of a trade war between U.S. and China.Drillers added 11 oil rigs in the week to April 6, bringing the total count up to 808, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.This was the biggest weekly addition in about two months.The U.S. rig count, an early indicator of future output, is much higher than a year ago when 672 rigs were active.
U.S. Drillers Cut Rigs for First Week in Seven
U.S. energy companies this week cut oil rigs for the first time in seven weeks even as crude prices hovered near a three-year high, prompting more drillers to boost spending plans for 2018. Drillers cut four oil rigs in the week to March 9, bringing the total count down to 796, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 617 rigs were active as energy companies have continued to boost spending since mid-2016 when crude prices began recovering from a two-year crash. U.S.
U.S. Oil Rig Count Rises for Fifth Straight Week - Baker Hughes
U.S. energy companies added one oil rig this week, the fifth weekly increase in a row, as oil prices hovered at two-week highs. Drillers added one oil rig in the week to Feb. 23, bringing the total count up to 799, the highest level since April 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That was the first time since June that drillers added rigs for five consecutive weeks. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 602…
U.S. Drillers Add Rigs for 6th Consecutive Week -Baker Hughes
U.S. energy companies added oil rigs for a sixth week in a row as crude prices hovered near three-year highs, prompting more drillers to boost their spending plans for 2018. Drillers added 1 oil rig in the week to March 2, bringing the total count to 800, the highest level since April 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That was the first time since June that drillers added rigs for six consecutive weeks. They added rigs for 23 weeks in a row between January and June 2017. The U.S.
