The U.S. natural gas rig count went unchanged at 153 for the week ended Friday (July 8), while a small uptick in oil-directed drilling lifted the combined U.S. tally two units higher to 752, updated figures from Baker Hughes Co. (BKR) show. Total oil-directed rigs increased two units to 597 in the United States week/week.…
oil and gas production
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Latest U.S. Drilling Tally Up Two on Gains in Oil Patch
A small uptick in oil-directed drilling lifted the U.S. rig count two units higher to 752 for the week ended Friday (July 8), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Oil-directed drilling rose by two units to 597 in the United States week/week, while natural gas-directed rigs were unchanged…
Domestic Crude Output Holds at 2022 Pinnacle as Demand Increases; OPEC Leader Dies
U.S. oil production last week held at a high point for the year as overall petroleum demand increased, led by consumption of travel fuels, the U.S. Energy Information Administration (EIA) reported Thursday. Producers pumped 12.1 million b/d for the week ended July 1, according to the EIA’s Weekly Petroleum Status Report. That continued the pace…
U.S. Drilling Total Slides on Drop in Natural Gas Activity
The U.S. natural gas rig count fell four units to 153 during the week ended Friday (July 1), offsetting a one-rig increase in the oil patch to drop the overall domestic tally three units to 750, the latest numbers from Baker Hughes Co. (BKR) show. The 750 active U.S. rigs as of Friday compares with…
Earthstone’s Permian Conquest Marches On with $627M Titus Acquisition
Earthstone Energy Inc. is continuing its Permian Basin acquisition spree with plans to purchase the assets of privately held Titus Oil & Gas Production LLC in the New Mexico portion of the Permian Basin in a $627 million cash-and-stock deal. Located in the northern portion of the Delaware sub-basin, the assets produced 31,800 boe/d (65%…
Natural Gas Drilling Decline Drives U.S. Upstream Activity Lower in Latest Baker Count
A decline in natural gas-directed drilling saw the U.S. rig count fall three units to 750 for the week ended Friday (July 1), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). One oil-directed rig was added domestically for the week, while natural gas-directed rigs declined by four. The combined 750…
Higher Oil, Natural Gas Prices Push Alberta Budget into Surplus
A six-year streak of provincial budget deficits in Alberta ended in 2021 thanks to higher oil and natural gas prices that drove a five-fold increase by government royalties, according to an annual treasury review. In the Alberta provincial treasury annual review for the year ended March 31, 2022, Finance Minister Jason Nixon reported record royalties…
PDC’s DJ Well Inventory Climbs by 99 in June with Latest Colorado Regulatory Approval
PDC Energy Inc. has gained approval by Colorado regulators for a 30-well oil and natural gas development program in Weld County. The Colorado Oil and Gas Conservation Commission (COGCC) approved the Broe Oil and Gas Development Plan (OGDP), PDC said Wednesday. The Denver-based producer acquired the Broe OGDP in Weld County during May, when it…
Mexico Private Operators Surpass 100,000 b/d in Oil Production
Oil production by non-state operators in Mexico has surpassed 100,000 b/d for the first time since the 2013-2014 constitutional energy reform ended the upstream monopoly held by state oil company Petróleos Mexicanos (Pemex). Private operators produced 101,044 b/d in May, up from 65,238 b/d in the same month a year ago, data from upstream regulator…
Surge in Oil Patch Lifts U.S. Drilling Tally by Double Digits in Latest Baker Count
The U.S. rig count surged 13 units higher to 753 during the week ended Friday (June 24), driven by growth in the oil patch, the latest figures from oilfield services provider Baker Hughes Co. (BKR) show. Domestic drilling gains for the week included 10 oil-directed rigs and three natural gas-directed rigs. The 753 active U.S.…