The U.S. rig count has been falling so fast in recent weeks it’s hard to keep up. On Feb. 5 the count was 571; then it dropped to 541 the following week before coming to rest a week later at the current tally of 514, according to Baker Hughes Inc.
Rigs
Articles from Rigs
Permian Rig Count Falls Further, But Delaware Basin Looks Bright
Texas lost 12 rigs and the Permian Basin saw seven depart, making them the biggest losers among states and plays in the most recent rig count. But the Permian has something going for it called the Delaware Basin.
February 19, 2016
Nabors in Lockstep with Peers on Less Drilling, Fewer Rigs in North America
Nabors Industries Inc., which owns and operates the world’s largest land-based drilling rig fleet, said Wednesday the story that has been playing out for contract oilfield service operators remains the same, as activity in North America is forecast to continue to slide this year.
February 17, 2016
U.S. Cuts Another 30 Rigs; About 400 to Be Bottom, Analysts Say
North American energy patch retrenchment continued with the withdrawal of 50 rigs from service in the United States and Canada, according to the Baker Hughes Inc. tally released Friday (Feb. 12).
February 12, 2016
50 North American Rigs Depart as Exodus Continues
North American energy patch retrenchment continued with the withdrawal of 50 rigs from service in the United States and Canada, according to the Baker Hughes Inc. tally released Friday (Feb. 12).
February 12, 2016
Rigs Would Bite at $60/bbl if It Sticks, EOG Chief Says
About $60/bbl is the right price to bring producers back to the unconventional oil patch. But it will have to be a solid $60 that sticks around for a while before the smart money gets excited, EOG Resources Inc. CEO Bill Thomas told a Houston audience Wednesday.
February 11, 2016
As U.S. E&Ps Ax Budgets, Raymond James Forecasting Sharper Decline in Rig Count
Raymond James & Associates Inc. analysts are standing by their call for West Texas Intermediate oil prices to reach $50/bbl later this year in the face of a futures strip that is “simply unsustainable,” but until the price cavalry arrives, the U.S. rig count is going to be hacked even more as producers cut back their spending.
February 8, 2016
NatGas Rig Count Poised to Break Below 100
The count of drilling rigs active in the United States plummeted again for the week ending Feb. 5. The U.S. total declined by 48 units to end at 571, which is just under 40% of where it was one year ago when the count was 1,456.
February 5, 2016
U.S. Rig Count Drops by 48; Texas Again Leads Decline
The count of drilling rigs active in the United States plummeted again for the week ending Feb. 5. The U.S. total declined by 48 units to end at 571, which is just under 40% of where it was one year ago when the count was 1,456.
February 5, 2016
ConocoPhillips’ Rare Dividend Cut Confirms Commodity Prices Bad, Could Linger
In a sign of just how grim the commodity price environment has become — and how long it’s expected to last — ConocoPhillips cut its quarterly dividend for the first time in at least 25 years on Thursday, while also dropping 10 rigs and slashing capital expenditures (capex) for 2016 as it looks to maintain its balance sheet without racking up additional debt.
February 4, 2016
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