Activity

U.S. Gains 10 Rigs as Recovery Continues

U.S. Gains 10 Rigs as Recovery Continues

The United States saw a net gain of five oil and five natural gas rigs during the week just ended. More than twice as many oil rigs are operating as there were one year ago, and natural gas rigs are up by 90% from their year-ago tally.

April 21, 2017
U.S. Added NatGas Along With Oil Rigs in Latest Tally

U.S. Added NatGas Along With Oil Rigs in Latest Tally

When rigs return to the energy patch, it doesn’t just mean more oil and natural gas production, they bring with them increased economic activity to the regions where they operate, as the nation’s Federal Reserve banks have noted recently.

April 21, 2017
Dallas Fed Reports Optimism — and Activity — Rising for Oil, NatGas Operators

Dallas Fed Reports Optimism — and Activity — Rising for Oil, NatGas Operators

Oil and gas operators in Texas, southern New Mexico and northern Louisiana continued to “git ‘er done” during the first three months of this year, with energy activity stronger for the second consecutive quarter, the Federal Reserve Bank of Dallas said Wednesday.

March 29, 2017

Diamondback Raising Rigs as Activity Escalates in Permian

Diamondback Energy Inc.’s Permian Basin production climbed 38% year/year and was 16% higher sequentially during the fourth quarter as the company raised more rigs in the Southern Delaware.

February 15, 2017

Onshore Oil, NatGas Activity Escalating, Operators Tell Fed

Energy firm activity accelerated in the final three months of 2016 and the “future activity outlook also improved considerably” across the Midcontinent, the Federal Reserve Bank of Kansas City (Fed) said Friday.

January 13, 2017

Precision Says ‘Virtually All’ Its Customers Thinking About Adding Rigs In 2017

Calgary-based Precision Drilling Corp. is seeing activity pick up across all of its U.S. operating regions, with the Permian Basin in West Texas “getting the most attention,” CEO Kevin Neveu told analysts during a 3Q2016 earnings call.

October 24, 2016
E&Ps STACK-piling Acreage, See Major Upside in Midcontinent

E&Ps STACK-piling Acreage, See Major Upside in Midcontinent

Though often overshadowed by its Permian cousin to the south, the Anadarko Basin, with its stacked reservoirs, is generating plenty of buzz in its own right heading into 2017.

October 19, 2016

Halliburton Sees Green Shoots, Surprises to Upside in 3Q, with North American Revenue Jumping 9%

Halliburton Co., the largest pressure pumper and completions expert in North America, swung to an unexpected profit in the third quarter, driven by “relentlessly managing costs” and a slightly improving market, CEO Dave Lesar said Wednesday.

October 19, 2016

Midcontinent NatGas, Oil Operators Buoyed by (Slightly) More Activity During 3Q, Says Fed Survey

For the first time in two years, oil and natural gas operators reported a “modest increase” during the third quarter, according to a survey by the Federal Reserve Bank of Kansas City, which serves Colorado, Kansas, the western third of Missouri, Nebraska, the northern half of New Mexico, Oklahoma and Wyoming.

October 7, 2016

E&Ps, Service Firms Seeing More Activity but ‘Persistent’ Weakness in Jobs, Output, Says Dallas Fed

Oil and natural gas executives told the Federal Reserve Bank (Fed) of Dallas that business activity increased during the third quarter, but there remains “persistent weakness” in employment and production, the latest energy survey indicated.

September 28, 2016