Lower 48 natural gas and oil permitting fell in May from April and dipped 11% from a year ago, driven by a pullback in smaller U.S. basins, according to Evercore ISI. Energy analysts led by James West each month review state and federal permitting to determine trends in activity. Once an onshore permit is issued,…
Rigs
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U.S. Rig Total Walloped Once Again, This Time With Oil Count Down Double Digits
The U.S. rig count posted a second straight double-digit decline during the week ended Friday (May 19), this time with losses hitting the oil patch, the latest figures from Baker Hughes Co. (BKR) show. U.S. operators shelved 11 rigs — all oil-directed — for the period, dropping the domestic tally to 720, lagging the year-earlier…
May 19, 2023
Natural Gas Futures, Spot Prices Power Forward Following Sign of Production Pullback
Natural gas futures traders shrugged off continued mild weather forecasts and elevated supply data, seizing instead on a sharp drop in the weekly rig count to push prices higher for a second day. At A Glance: Bargain buying continues Rig count invigorates bulls NGI sees 110 Bcf injection Following a 7.6-cent gain to close out…
May 15, 2023
Permian Slowdown Sends U.S. Drilling Total Tumbling, BKR Data Show
U.S. drillers dropped seven rigs overall during the week ended Friday (May 5), with cuts focused in Texas and the Permian Basin in particular, the latest numbers from Baker Hughes Co. (BKR) showed. Declines of four natural gas-directed rigs and three oil-directed rigs saw the combined domestic tally finish the period at 748, versus 705…
May 5, 2023
Two Natural Gas Rigs Added in U.S. as Oil Count Steady, Baker Hughes Data Show
The U.S. natural gas rig count climbed two units to 161 for the week ended Friday (April 28), while a mix of regional activity changes left the domestic oil drilling count unchanged at 591, according to the latest figures from Baker Hughes Co. (BKR). The combined domestic rig count ended the period two units higher…
April 28, 2023
U.S. Adds Two Natural Gas, Three Oil Rigs in Updated BKR Count
The U.S. natural gas rig count climbed two units to finish at 159 for the week ended Friday (April 21), while gains in the oil patch saw the combined domestic drilling tally rise five units to 753, according to the latest numbers from Baker Hughes Co. (BKR). Land drilling increased by five rigs domestically, with…
April 21, 2023
U.S. Drilling Total Down Three Amid Declines in Both Oil, Natural Gas Activity
A slowdown in both oil and natural gas drilling saw the U.S. rig count fall three units to finish at 755 for the week ended Friday (March 31), according to updated figures published by Baker Hughes Co. (BKR). Domestic declines for the week included two natural gas-directed rigs and one oil-directed rig. All of the…
March 31, 2023
Sharp Rise in U.S. Natural Gas Drilling Sends BKR Count Higher
The U.S. natural gas rig count surged nine units higher to reach 162 for the week ended Friday, while a one-rig decline in the oil patch saw the combined domestic tally rise eight units to 754, according to updated figures from Baker Hughes Co. (BKR). Land drilling increased by five domestically for the week, with…
March 17, 2023
Oil Drilling Declines Send U.S. Count Tumbling in Latest BKR Data
A slowdown in oil-directed drilling sent the U.S. rig count tumbling seven units lower to 753 for the week ended Friday (Feb. 24), according to updated figures from oilfield services provider Baker Hughes Co. (BKR). Total U.S. natural gas-directed rigs were unchanged week/week at 151, with oil-directed rigs accounting for the entirety of the overall…
February 24, 2023
Drilling Totals Steady in Latest Baker Count as U.S. Drops One Rig
In a week of small adjustments, a downtick in oil activity saw the U.S. rig count ease one unit lower to 760 for the week ended Friday (Feb. 17), according to updated figures published by Baker Hughes Co. (BKR). Domestic changes for the week included a two-rig decline in oil-directed drilling, partly offset by the…
February 17, 2023
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