Decline

‘Clear Evidence’ U.S. Oil Well Productivity Gains Maxing Out

Surging onshore oil production wrested from wells using unconventional drilling techniques may have reached its maximum level and could decline as producers deal with well interference and “rock quality deterioration.”

September 4, 2019
BHI’s Domestic Rig Count Drops Amid Both Oil, NatGas Oil Declines

BHI’s Domestic Rig Count Drops Amid Both Oil, NatGas Oil Declines

The U.S. rig count fell by five units for the week ended Friday thanks to a drop in both oil and natural gas activity, including declines in the Haynesville and Eagle Ford shales and in the Williston Basin, according to data from Baker Hughes Inc.

June 29, 2018
DJ-Niobrara, Permian Still in Producers’ Focus Based on Rig Count

DJ-Niobrara, Permian Still in Producers’ Focus Based on Rig Count

The last North American rig count of 2017 went out with a whimper instead of a bang as the number of rigs actively drilling for oil and gas for the week ending Dec. 29 declined by two units to 929, according to Baker Hughes data.

December 29, 2017

Doing ‘More For Less,’ ConocoPhillips Slashes 2017 Capex 10%

ConocoPhillips 3Q2017 earnings were up for a second consecutive quarter, even as production declined, according to the Houston-based independent, which said Thursday it has cut its 2017 capital expenditures (capex) budget by 10%.

October 26, 2017
Seven U.S. Oil Rigs Pack Up Shop; Texas, Louisiana Lead Declines Among States

Seven U.S. Oil Rigs Pack Up Shop; Texas, Louisiana Lead Declines Among States

A pullback in oil-directed drilling fueled an eight-rig decline in the U.S. rig count for the week ended Friday, according to data released by Baker Hughes Inc. (BHI).

September 15, 2017
U.S. Onshore Drilling Declines Focused in Texas; Rig Counts Steady Elsewhere

U.S. Onshore Drilling Declines Focused in Texas; Rig Counts Steady Elsewhere

Driven by a sharp drop in natural gas drilling, five U.S. rigs packed up for the week ended Friday (Aug. 11), according to data released Friday by Baker Hughes Inc. (BHI).

August 11, 2017
Mexico Non-Associated NatGas Production Hits 15-Year Low

Mexico Non-Associated NatGas Production Hits 15-Year Low

Production from Mexico’s leading principal natural gas basins — Burgos, Sabinas, Burro-Picachos and Veracruz — is at a 15-year low, the National Hydrocarbons Commission (CNH) reported this week.

August 10, 2017
U.S. Gas Exports to Mexico Climbed Last Year as Pemex Drilling Declined

U.S. Gas Exports to Mexico Climbed Last Year as Pemex Drilling Declined

Mexico’s Petroleos Mexicanos (Pemex) reported a smaller financial loss for 2016 than 2015. Natural gas production also declined while imports from the United States climbed.

March 2, 2017

Storage Expected to Keep Building, Yet Expiring November Contract Seen A Penny Higher

The expiring November natural gas futures contract is expected to open a penny higher Thursday morning at $2.74 as traders adjust their estimates of ending inventories to account for continued storage builds. Overnight oil markets rose.

October 27, 2016

West Virginia Tax Collections Still Falling on Weak Oil/NatGas Prices

West Virginia tax collections continued falling through the first three months of the fiscal year in a trend that state officials again attributed to weak commodity prices, which have negatively impacted the oil and natural gas industry.

October 5, 2016