Increase

U.S. land rig margins increased on average by more than $800/day for Helmerich & Payne Inc. (H&P) during the fiscal third quarter on increased utilization and demand for super-specification rigs.

The American Petroleum Institute (API) reported this week that the estimated total number of oil and natural gas wells drilled and completed during the second quarter increased 62% from the year-ago quarter.

Crude oil exports have inched upward this year, reaching the highest monthly level on record of 1.1 million b/d in February, the Energy Information Administration (EIA) said Tuesday.

Oil and natural gas activity in Texas, northern Louisiana and southern New Mexico increased during the second quarter, albeit at a slightly slower pace than early this year, according to the latest energy survey by the Dallas branch of the Federal Reserve Bank (Fed).

A rising rig count and increased oil and gas spending are again spurring Texas employment, with the energy sector leading job growth in the state during May.

North Dakota’s chief energy regulator on Tuesday called the latest oil and natural gas production numbers “happy, happy, happy,” despite continuing low commodity prices.

Natural gas and oil production out of the nation’s seven most prolific unconventional plays is expected to continue its relentless push higher in July, according to data from the Energy Information Administration (EIA).

In the midst of a historic budget impasse, West Virginia’s severance tax collections have again provided a glimmer of light, as higher natural gas prices and more coal sales in May helped push state revenue 20% above projections to $350.4 million.

Enable Midstream Partners LP on Wednesday announced a new Anadarko Basin rich gas takeaway project called Project Wildcat.