Added

Canada added eight natural gas-directed rigs to its census and dropped four oil rigs in the latest tally of active rigs compiled by Baker Hughes Inc. and released on Thursday, one day early because of the U.S. holiday. In the land where Independence Day is celebrated, drillers had more of a taste for oil, adding 12 oil-directed rigs and dropping nine gas rigs for the week ending July 2.

The North American rig count stepped up by seven in the tally released by Baker Hughes Inc. on Thursday, one day early because of the holiday. That was enough to push the census to 1,001 for the continent for the week ending July 2.

The Baker Hughes Inc. count of rigs running in unconventional basins declined by two to end at 650 on Friday (June 12). Most of the basins held steady for the week, and the declines were spread out.

The United States experienced a net decline of nine operating drilling rigs in the latest Baker Hughes Inc. count released Friday (June 12). Land-based, horizontal and oil-directed units led the retreat. Meanwhile, Canada added 11 rigs as drilling season returns to the frozen north.

The Baker Hughes Inc. count of rigs running in unconventional basins declined by two to end at 650 on Friday (June 12). Most of the basins held steady for the week, and the declines were spread out.

The United States experienced a net decline of nine operating drilling rigs in the latest Baker Hughes Inc. count released Friday (June 12). Land-based, horizontal and oil-directed units led the retreat. Meanwhile, Canada added 11 rigs as drilling season returns to the frozen north.

The U.S. Chamber of Commerce said Wednesday one of the “key parts” of its 2014 strategy is to “advance and protect America’s energy revolution” through the production of more domestic energy, the improvement of infrastructure and the modernization of the government’s regulatory process.

U.S. oil and natural gas exploration and production companies added 31.2 Tcf of wet natural gas proved reserves and almost 3.8 billion bbl of crude oil and lease condensate proved reserves in 2011, the Energy Information Administration (EIA) said in a report issued Thursday.

Strategic investors and foreign buyers continue to press for deals in U.S. unconventional fields, but higher prices have pushed private equity (PE) momentarily to the sidelines, according to PwC US.