Rigs

Lower costs in the Denver-Julesburg (DJ) Basin and a larger than expected inventory of uncompleted wells in the Marcellus Shale at the end of the first quarter have Noble Energy Inc. shifting more capital back to Colorado and increasing its full-year guidance slightly.

Despite an expected decrease in Lower 48 production for the second half of 2015, ConocoPhillips repeated its assertion that full-year production will increase 2-3%, thanks to five major projects around the world that are expected to come online before year's end.

Despite an expected decrease in Lower 48 production for the second half of 2015, ConocoPhillips repeated its assertion that full-year production will increase 2-3%, thanks to five major projects around the world that are expected to come online before year’s end.

It's too early for natural gas lovers to gloat, but judging by the latest Baker Hughes Inc. rig count from Friday, the dry stuff could be making a bit of a comeback…

The count of active rigs drilling for either oil or natural gas in the Lone Star State busted below the 400 barrier in the latest Baker Hughes Inc. rig count as the rout continued in the nation's oil patch. The U.S. crude-directed rig count fell 31 to 703 in the latest count.

It’s too early for natural gas lovers to gloat, but judging by the latest Baker Hughes Inc. rig count from Friday, the dry stuff could be making a bit of a comeback compared with oil, for which gas was forsaken all those many months ago.

The count of active rigs drilling for either oil or natural gas in the Lone Star State busted below the 400 barrier in the latest Baker Hughes Inc. rig count as the rout continued in the nation’s oil patch. The U.S. crude-directed rig count fell 31 to 703 in the latest count.

Weatherford International plc expects that half of its North American (NAM) drilling equipment may be stacked by the end of June following a "miserable" performance in the first quarter, the company’s CEO said Thursday. Onshore drilling contractor Patterson-UTI Inc. (PTEN) already has stacked about one-third of its hydraulic fracturing equipment because there's "no real demand" for rigs anywhere, CEO Andy Hendricks said.

Weatherford International plc expects that half of its North American (NAM) drilling equipment may be stacked by the end of June following a “miserable” performance in the first quarter, the company’s CEO said Thursday. Onshore drilling contractor Patterson-UTI Inc. (PTEN) already has stacked about one-third of its hydraulic fracturing equipment because there’s “no real demand” for rigs anywhere, CEO Andy Hendricks said.