Thursday, October 23, 2025

Scott Disavino News

Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.

Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 17. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 418 rigs this week while gas rigs increased by one, to 121 rigs, the highest level since August.

Berkshire Hathaway Energy Cove Point in Maryland LNG export plant is back in service

According to a notice sent to customers by the company and data provided by financial firm LSEG, on October 13, U.S. energy giant Berkshire Hathaway Energy’s Cove Point liquefied gas export plant (LNG) in Maryland resumed service after a planned maintenance outage. The LSEG data revealed that the amount of natural gases flowing into the plant after it shut down around September 20 rose from zero to 0.9 billion cubic feet per day (bcfd), on October 12. The plant is capable of converting 0.8 bcfd into LNG.

Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.

Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August.

Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.

Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.

EIA increases US oil production forecast and warns that oversupply could lead to a price drop

The Energy Information Administration announced on Tuesday that U.S. crude oil production will be higher than expected this year. However, it warned of a glut in oil prices for the months to come. According to the Department of Energy's statistics arm, U.S. oil output is expected to average 13,53 million barrels a day in 2013, up from the previous forecast of 13,44 million bpd. Last year's record oil production was 13.23 barrels per day. The EIA expects that crude oil inventories will rise in the coming months and that this will put downward pressure on oil prices.

EIA: US power consumption will reach new highs by 2025 and 26.

The Energy Information Administration's short-term energy forecast on Tuesday predicted that U.S. electricity consumption would reach record levels in 2025 and in 2026. The EIA predicted that power demand would rise to 4,191 kilowatt hours in 2025, and 4,305 kilowatt hours in 2026. This is up from the record 4,097 kWh of 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency, and homes and businesses using more electricity for heating and transportation and less fossil fuel.

Baker Hughes reports that US oil and gas drillers have reported the same number of rigs for the week, 549.

Baker Hughes, a leading energy services company in the United States, said that this week U.S. firms kept the number oil and gas rigs almost unchanged. In the week ending October 3, the rig count, including a miscellaneous group, which is an early indicator of future production, remained at 549. Baker Hughes reported that the total number of rigs was 36, or 6.2% lower than this time last. Baker Hughes reported that oil rigs dropped by two this week to 422 while gas rigs increased by one to be at 118.

EIA: US power consumption will reach new highs by 2025 and 26.

The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA projects that power demand will increase to 4,187 billion Kilowatt-hours in 2025, and 4,305 in 2026. This is up from the record 4,097 in 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuel.

Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.

Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 29 to 536, the lowest level since August 2021. Baker Hughes reported that the total number of rigs is down 47 or 8.1% from the same time last year. Baker Hughes reported that oil rigs increased by one this week to 412, while gas-rigs decreased by three to 119.

Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.

Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the fourth consecutive week. The number of oil and gas drilling rigs, a leading indicator of future production, dropped by one in the week ending August 22 to 538, the lowest level since mid-July. Baker Hughes reported that the number of rigs has dropped by 47 this week. Below this time last Year. Baker Hughes reported that oil rigs dropped by one this week to 411, while gas-rigs remained at 122.

Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.

Baker Hughes, a leading energy services company, said that the U.S. firms cut back on the number of natural gas and oil rigs for the fourth consecutive week in its widely read report. The number of oil and natural gas rigs, a good indicator of future production, dropped by one in the week ending August 22. This is the lowest level since mid-July. Baker Hughes reported that oil rigs dropped by one this week to 411, while gas-rigs remained at 122. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S.

Baker Hughes reports that the US oil and gas rig counts are stable this week.

Baker Hughes, a leading energy services company, said that the U.S. energy companies this week kept the number of oil rigs and natural gas rigs at a constant level. The number of oil and gas drilling rigs, which is a good indicator of future production, was 539 during the week ending August 15. Baker Hughes reported that oil rigs increased by one this week to 412 while gas rigs decreased by one to 122. Texas, which is the largest oil and gas producing state, saw its rig count drop by one, to 242, marking the lowest level since September 2021.

EIA: US natgas production and demand will reach record highs by 2025 before declining in 2026

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, released on Tuesday, predicted that the U.S. Natural Gas output and demand would both reach record highs by 2025. However, they will then decline in 2026. EIA projects that dry gas production will increase from 103.2 billion cubic feet per day in 2024, to 106.4 in 2025, before slipping to 106.1 in 2026. This compares to a record of 103.6 bcfd for 2023. The agency projected that domestic gas consumption will rise from 90.5 bcfd…

EIA: US power consumption will reach new highs by 2025 and 26.

The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA predicted that power demand would rise to 4,186 kilowatt hours (kWh) by 2025, and 4,284 kWh by 2026. This is up from the record 4,097 kWh of 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuels.

Freeport LNG export facility in Texas returns to service on Monday according to LSEG data

Freeport LNG, a U.S. liquefied gas company, had its Texas export plant take on more natural gases on Monday. This was a sign the plant had recovered from an outage that occurred over the weekend. Freeport LNG is one of the most closely monitored LNG export facilities in the world, as the start and end of its operations can cause price fluctuations on global gas markets. Gas prices in the U.S. typically drop when flows to Freeport decline due to a lower demand for fuel from the export facility.

Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.

Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 1. This is the lowest level since October 2021. Baker Hughes reported that the number of rigs is down 46, or 7.8% from this time last year. Baker Hughes reported that oil rigs dropped by five this week to 410, their lowest level since September 2021.

US gas producer CNX resources increases 2025 production estimate without additional spending

CNX Resources, a U.S. energy company, said in its earnings for the second quarter that it planned to produce more gas than expected this year to meet rising demand and spend the same amount. Two other major U.S. producers of gas, EQT, and Range Resources both announced in their second-quarter earnings earlier this week that they would also produce more energy by 2025 to meet the rising demand. Energy analysts predict that demand for liquefied gas for powering data centers and exporting to other countries will continue to reach record levels in the coming years.

US gas companies EQT and Range increase output plans for 2025

EQT, a U.S.-based energy company, and Range Resources, a U.S.-based oil company both expect to produce additional natural gas by 2025 in order to meet the rising demand without increasing planned expenditure. Energy analysts predict that demand for liquefied gas for powering data centers and export to other countries will continue to reach record levels in the coming years. Dennis Degner, CEO of Range, told analysts during a call to discuss earnings on Wednesday that the company is "extremely well-positioned" to support these initiatives.

EIA: US power consumption will reach new highs by 2025 and 26.

The U.S. Energy Information Administration stated in its short-term outlook for energy on Tuesday that the U.S. will reach record levels of power consumption in 2025 and in 2026. The EIA predicted that the power demand would rise to 4,189 kilowatt-hours in 2025, and 4,278 kWh by 2026. This is up from 4,097 kWh at a record in 2024. These increases are due to the data centers that focus on artificial intelligence, cryptocurrency and homes and businesses using more electricity for heating and transportation and less fossil fuels.

Baker Hughes reports that US drillers have cut oil and natural gas rigs in the US for the 10th consecutive week.

Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of oil rigs and natural gas wells for a tenth consecutive week for the first since July 2020. The number of oil and gas drilling rigs, a good indicator of future production, dropped by eight in the week ending July 3 to 539, the lowest level since October 2021. Baker Hughes released its report a day early than usual due to Friday's Fourth of July holiday in the United States. Baker Hughes reported that the total number of rigs is down 46 or 8% from this time last week.