Tag / Rigs

Subscribe

Rigs

Calgary’s Ensign Forecasting ‘Relatively Stable’ Activity as E&Ps Build DUCs, Prepare for LNG Takeaway 

Calgary’s Ensign Forecasting ‘Relatively Stable’ Activity as E&Ps Build DUCs, Prepare for LNG Takeaway 

Geopolitical tensions are impacting global oil and natural gas prices, but the outlook for oilfield services “continues to be constructive,” as operators prepare for infrastructure and LNG projects to begin commercial operations, according to Ensign Energy Services Inc. The executive team of the Calgary-based operator, which works across North America and in overseas markets, discussed…

March 12, 2024
Growing Demand for Dual-Fuel and E-Fleets, but E&P Activity Still Weak, Says ProPetro Chief

Growing Demand for Dual-Fuel and E-Fleets, but E&P Activity Still Weak, Says ProPetro Chief

Permian Basin-focused ProPetro Holding Corp. is giving its exploration customers more of what they want – electric and dual-fuel fleets – as it continues to industrialize its business, CEO Sam Sledge said. The Midland, TX-based completions expert works across the Lower 48, with most of the exploration and production (E&P) work centered in the Permian.…

February 27, 2024
Down, Down Natural Gas Goes, but Where Does It Stop? — Midday Market Snapshot

Down, Down Natural Gas Goes, but Where Does It Stop? — Midday Market Snapshot

Search for bottom continuing for natural gas futures Wednesday as prices down sharply through morning and lunchtime trading March Nymex contract off 8.0 cents to $1.609/MMBtu as of 2:28 p.m. ET; $1.61 seen as “strong technical support,” according to EBW Analytics Group’s Eli Rubin Nymex front month trading at roughly 10-cent premium to day-ahead Henry…

February 14, 2024
Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump

Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump

Haynesville Shale pure-play Comstock Resources Inc. is pumping the brakes on natural gas drilling and shareholder distributions because of low commodity prices. “In response to weak natural gas prices, Comstock plans to suspend its quarterly dividend until natural gas prices improve,” management said. “In addition, the company plans to reduce the number of operating drilling…

February 14, 2024
Canada Natural Gas Activity Strengthening Ahead of LNG, Pipe Start-Ups, Says Precision CEO

Canada Natural Gas Activity Strengthening Ahead of LNG, Pipe Start-Ups, Says Precision CEO

Canadian energy market fundamentals are improving enough to support a “sustained period of elevated natural gas drilling,” particularly in the Western Canadian Sedimentary Basin, Precision Drilling Corp.’s chief said. While Lower 48 demand for drilling services by exploration and production (E&P) customers remains muddled, the picture is much clearer in Canada for the Calgary-based oilfield…

February 12, 2024
Natural Gas Drilling Rises in U.S. as Haynesville, Marcellus Add Rigs, BKR Data Show

Natural Gas Drilling Rises in U.S. as Haynesville, Marcellus Add Rigs, BKR Data Show

Led by gains in both the Haynesville and Marcellus shales, the U.S. natural gas rig count advanced to 121 for the week ended Friday (Feb. 9), up four rigs for the period, according to the latest tally from Baker Hughes Co. (BKR). Total U.S. oil-directed rigs were unchanged week/week at 499, and the combined domestic…

February 9, 2024
Natural Gas Count Slides to 117 in U.S. as Haynesville Drops Two Rigs

Natural Gas Count Slides to 117 in U.S. as Haynesville Drops Two Rigs

The U.S. natural gas rig count dropped two units to 117 for the week ended Friday (Feb. 2), including a slowdown in the Haynesville Shale, updated Baker Hughes Co. (BKR) data show. Domestic oil-directed drilling, meanwhile, went unchanged overall for the period at 499 rigs, and the combined U.S. rig count finished two units lower…

February 2, 2024
Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling permits in the natural gas-rich Marcellus, Utica and Haynesville shale plays showed strong month/month growth in December 2023 but remained 16% below the December 2022 total, according to the latest tally by Evercore ISI. The three formations, which together supply about 53% of Lower 48 gas output, had a combined issued permit count of…

January 30, 2024
U.S. E&Ps Setting Cautious Course on Uncertain Natural Gas, Oil Prices

U.S. E&Ps Setting Cautious Course on Uncertain Natural Gas, Oil Prices

Natural gas and oil executives are likely to “prudently navigate” through turbulent commodity prices this year before sailing into smoother seas heading into 2025, according to industry analysts. Exploration and production (E&P) companies in their quarterly conference calls, which are already underway, should be “guiding conservatively” in 2024, “particularly on the natural gas side,” Tudor,…

January 30, 2024
Natural Gas Count Eases Lower as Permian Activity Climbs, BKR Data Show

Natural Gas Count Eases Lower as Permian Activity Climbs, BKR Data Show

Total active U.S. natural gas rigs decreased by one to 119 for the week ended Friday (Jan. 26), while an uptick in Permian Basin activity helped lift the combined domestic tally one rig overall to 621, according to the latest count from Baker Hughes Co. (BKR). U.S. oil-directed rigs increased by two for the period…

January 26, 2024
‹ Previous 1 2 3 64