Drilling

‘Substantial’ Boost to Patterson-UTI U.S. Rig Count Said Likely in June and July

‘Substantial’ Boost to Patterson-UTI U.S. Rig Count Said Likely in June and July

U.S. contract driller Patterson-UTI Energy Inc. expects to see a “substantial” boost to the oil and gas rig count in June and July, CEO Andy Hendricks said Thursday. Hendricks, during a conference call to discuss first quarter performance and the outlook, said confidence is improving that 2021 will be a solid year for business in…

April 30, 2021
NOV Forecasting Oilfield Business Rebound as E&P Customers Get Back to Work, Restock Equipment

NOV Forecasting Oilfield Business Rebound as E&P Customers Get Back to Work, Restock Equipment

Houston-based NOV Inc. faced challenging conditions for its rig equipment and technology in the first quarter, but as activity in North America and overseas improves, business should improve going forward, CEO Clay Williams said Wednesday. Williams, who held court to discuss the first quarter during an hour-long conference call, said the latest results reflected the…

April 28, 2021
Precision’s U.S., Canada Contract Drilling Escalating Quickly as Outlook ‘Substantially improved’

Precision’s U.S., Canada Contract Drilling Escalating Quickly as Outlook ‘Substantially improved’

U.S. drilling activity has improved “a little faster than we expected,” with more customers opting to activate rigs using natural gas and blended gas systems, Precision Drilling Corp. CEO Kevin Neveu said last week.  Sharing a microphone with his management team, Neveu held court last Thursday to discuss the Calgary-based operator’s performance in the first…

April 27, 2021
Natural Gas Rig Count Unchanged in U.S. as One Oil Rig Exits Patch

Natural Gas Rig Count Unchanged in U.S. as One Oil Rig Exits Patch

The U.S. natural gas rig count held flat at 94 during the week ended Friday (April 23), while a small contraction in oil-directed drilling saw the combined domestic tally ease lower, according to data from Baker Hughes Co. (BKR). Oil rigs fell one unit to 343 in the United States for the week, lowering the…

April 23, 2021
Schlumberger’s North American Land Activity Accelerates, with Momentum Building Overseas

Schlumberger’s North American Land Activity Accelerates, with Momentum Building Overseas

Schlumberger Ltd.’s management team on Friday said it returned to form in the first quarter, with the expectation global oil and natural gas activity could return to pre-pandemic levels by 2022. CEO Olivier Le Peuch held court during a conference call from Houston, where he shared an optimistic vision for the world’s No. 1 oilfield…

April 23, 2021
California Drilling Ban Proposal Rejected in State Senate Committee

California Drilling Ban Proposal Rejected in State Senate Committee

Another attempt in California to ban the use of hydraulic fracturing (fracking) and other well stimulation technologies has failed to get a key legislative committee’s endorsement, drawing cautious optimism from industry representatives. Senate Bill 467 by state Sen. Scott Wiener was granted reconsideration to possibly be reintroduced. The bill also would have prohibited wells from…

April 19, 2021
U.S. Adds 13 Rigs Amid Spring Surge in Oil Patch

U.S. Adds 13 Rigs Amid Spring Surge in Oil Patch

With activity ramping up on land and offshore, the U.S. rig count surged 13 units higher to 430 during the holiday-shortened week ended Thursday (April 1), according to data published by Baker Hughes Co. (BKR). As has often been the case recently, the increase in domestic drilling for the week was driven by the oil…

April 1, 2021
Natural Gas Rigs Down One in U.S. as Oil Count Surges by Double Digits

Natural Gas Rigs Down One in U.S. as Oil Count Surges by Double Digits

The U.S. natural gas rig count eased one unit lower to 91 for the holiday-shortened week ended Thursday (April 1), while a spring surge in the oil patch sent the overall domestic tally higher by double digits, according to data published by Baker Hughes Co. (BKR). Thirteen oil-directed rigs were added in the United States,…

April 1, 2021
Texas Slowly Adding Upstream Jobs After ‘Difficult Season’

Texas Slowly Adding Upstream Jobs After ‘Difficult Season’

The Texas upstream oil and gas industry added 2,300 jobs during February, still not back to its pre-pandemic levels, but slowly rising since last September, according to the Texas Oil & Gas Association (TXOGA). Texas Workforce Commission data indicated that the upstream sector has added 7,400 jobs since the low point in September. Total upstream…

April 1, 2021
North Dakota ‘Split’ on Federal Pause for Oil, Gas Permitting

North Dakota ‘Split’ on Federal Pause for Oil, Gas Permitting

As the Biden administration further examines the ramifications of its pause on oil and natural gas leases on federal lands, it will find North Dakota’s Bakken Shale has a “unique story to tell,” according to Department of Mineral Resources (DMR) Director Lynn Helms. Most of the federal lands in North Dakota are split estates, where…

March 18, 2021
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