The United States added three natural gas-directed rigs for the week ended Friday, but a decline in oil drilling saw the domestic count fall by one overall, according to data from Baker Hughes Inc. (BHI).
Evercore
Articles from Evercore
U.S. E&P Permit Gains Indicate ‘Finger on the Trigger’ Heading into New Year
Onshore permit activity continues to quicken, a sign the U.S. rig count could strengthen into the new year.
U.S. E&Ps Seen Raising 2018 Capex by 15%, with Canadian Spend 9% Higher, Says Evercore
A pivotal year awaits exploration and production (E&P) companies worldwide, with capital spending on course to increase 7% overall, led by a 15% gain in U.S. onshore-weighted budgets, according to Evercore ISI’s annual survey.
U.S. Rig Count Bounces Back, Adds Nine on Oil Gains in Permian, SCOOP/STACK
After more than a month of retrenchment, the U.S. rig count bounced back for the week ended Friday on growth in oil-focused activity in the Permian and Midcontinent, according to data from Baker Hughes Inc. (BHI).
U.S. Rig Count ‘Inflection Point’ Possible as Permits Near Pre-Downturn Levels, Says Evercore
The domestic rig count could be nearing an inflection point as the current tally of weekly average drilling permits approaches 2014 levels, driven by higher commodity prices and “a strengthening macro outlook” for the industry, according to analysts with Evercore ISI.
Evercore Increases 2017 U.S. Rig Count Outlook as Year Ends on ‘Hopeful Note’
Many people look back during the holiday season and reflect about how quickly the year has passed, but if “time flies when you’re having fun,” 2016 could not end soon enough for the oil and gas industry.
Under Trump, Predictions of OFS Revival, Brief Lame Duck Session
Analysts with Evercore ISI said they expect the oilfield services (OFS) sector will enjoy a “vigorous recovery” under a future Trump administration, complete with increasing rig and well counts and a recovery in commodity prices.
North American E&Ps to Cut 2016 Capex by 41%, with Onshore Spend Down by Half, Says Survey
North America’s oil and gas operators, more than any group worldwide, are enduring the “most extreme” capital spending cuts, with expenditures likely to drop by 41% on average from 2015 and the onshore sector seeing the most pain, according to Evercore ISI.
Industry Brief
Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on “strategic alternatives” that may include selling “some or all” of the company’s assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are “significant developments.” Delta’s core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).