Units

The declining rig count trend continues, but the pace has slowed in recent weeks. Meanwhile, producers have learned to economize, doing more with less, and natural gas market rebalancing could be around the corner, analysts said.

The declining rig count trend continues, but the pace has slowed in recent weeks. Meanwhile, producers have learned to economize, doing more with less, and natural gas market rebalancing could be around the corner, analysts said.

The ongoing decline in active U.S. land rigs gathered pace again in the latest count by Baker Hughes Inc., with 14 units departing. Analysts are now talking about what a comeback might look like gas natural gas output declines are charted.

The United States saw the departure of four land-based rigs in the latest tally by Baker Hughes Inc., which was released on Friday. That was five natural gas rigs departing, offset by one returning oil-directed rig.

The pace of U.S. rig declines slowed in the latest report by Baker Hughes Inc., which was released on Friday. Meanwhile, spring break-up continued in Canada, and analysts had market rebalancing on their minds.

FirstEnergy Corp. has idled its 2,490 MW coal-fired Bruce Mansfield Plant in Beaver County, PA, citing low energy prices.

The Eagle Ford Shale saw the departure of four drilling rigs in the latest count compiled by Baker Hughes Inc. and released on Friday, Oct. 16. At 76 rigs, the Eagle Ford is a far cry from its year-ago rig census of 209 units running.

The combination of weak prices for both oil and natural gas are setting the market up for a struggle by U.S. onshore production to outperform expectations for the first time since the rise of shale drilling, a Societe Generale analyst said in a note Thursday.

Mississippi Power has placed into commercial operation the Kemper County energy facility’s combined cycle unit and expects to begin converting locally mined lignite coal into synthetic natural gas to power the unit beginning later this year, the company said Thursday.