Counts

Big Jump in Rig Demand, Says National Oilwell

Because of strong drilling in North America’s onshore basins, oilfield equipment manufacturer National Oilwell Varco Inc. (NOV) said Tuesday its rig equipment backlog at the end of September was worth an estimated $4.87 billion — more than at the end of the second quarter.

October 27, 2010

Analyst Sees More Shale Rigs Joining Conventional Cutbacks in 2011

It has been conventional wisdom that with gas rig counts beginning a slow decline recently, production is still rising overall because it is mostly rigs being deactivated in conventional plays rather than those involved in the more prolific shale gas search. However, some market watchers are not buying that argument.

October 11, 2010

Gas Rig Productivity Replacing Rig Count

Natural gas production and rig counts have “diverged materially since 2008,” suggesting that “rig productivity” is the force behind massive supply growth, Barclays Capital energy analysts said last week.

September 20, 2010

Gas Rig Count Not Reliable Anymore, Says Barclays

Natural gas production and rig counts have “diverged materially since 2008,” suggesting that “rig productivity” is the force behind massive supply growth, Barclays Capital energy analysts said this week.

September 16, 2010

Analysts: Won’t Love Gas ‘For Good, Long While’

A plethora of natural gas shale deposits, persistently high rig counts, hedging and available debt capacity have stifled domestic natural gas prices for possibly three years, analysts at Tudor, Pickering, Holt & Co. (TPH) said last week. Tradition Energy analysts also blamed “the poor prospect of economic growth in the second half of the year” in revising down its gas price forecast.

August 16, 2010

Analysts Say They Won’t Love Gas ‘For Good, Long While’

A plethora of natural gas shale deposits, persistently high rig counts, hedging and available debt capacity have stifled domestic natural gas prices for possibly three years, analysts at Tudor, Pickering, Holt & Co. (TPH) said Tuesday.

August 11, 2010

Bentek: ‘Rig Count’ Made Obsolete by Shale Era

In the unconventional gas resource era, falling rig counts no longer mean declining production, and the traditional rig count no longer tells the tale of where the industry and the market are going, according to Bentek Energy LLC.

November 2, 2009

Bentek: Shale Era Makes ‘Rig Count’ Outdated Indicator

In the unconventional gas resource era, falling rig counts no longer mean declining production, and the traditional rig count no longer tells the tale of where the industry and the market are going, according to Bentek Energy LLC.

October 29, 2009

Houston Drilling Firm Fined for Using Gulf as Dumping Ground

Rowan Companies Inc., pursuant to a plea agreement with the Department of Justice (DOJ), last Tuesday pleaded guilty to three felony counts in a federal court in Beaumont, TX, in connection with the dumping of oil and other pollutants into the Gulf of Mexico by supervisory workers on its Rowan-Midland drilling rig during the period from 2002 through 2004.

October 15, 2007

Houston Drilling Firm Fined for Using Gulf as Dumping Ground

Rowan Companies Inc., pursuant to a plea agreement with the Department of Justice (DOJ), has pled guilty to three felony counts in a federal court in Beaumont, TX, in connection with the dumping of oil and other pollutants into the Gulf of Mexico by one of its drilling rigs, Rowan-Midland, during the period from 2002 through 2004.

October 11, 2007