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Tag Archives: natural gas prices

Rig count continues to creep upward

oil rig, rig count, Baker Hughes

The U.S. rig count continues to creep back up slowly, up ten Feb. 17, 2017, according to the latest Baker Hughes report. The rig count has increased for 5 straight weeks, reaching 751. The U.S. added 6 rigs exploring for oil and 4 exploring for natural gas. The current oil rig count is 597, while gas rigs number 153. One ...

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US stock indexes slip as consumer goods makers fall

NEW YORK (AP) — U.S. stock indexes are mostly lower Tuesday morning. Consumer goods companies are falling despite a report that showed spending by consumers jumped last month by the largest amount in six years. Major U.S. indexes are wrapping up a strong month that has brought them near their highest levels of 2016. KEEPING SCORE: The Dow Jones industrial ...

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West Virginia lawmakers resume work on long-delayed budget

West Virginia lawmakers

CHARLESTON, W.Va. (AP) — With no agreement on specific tax hikes, budget cuts or swipes into reserves, West Virginia lawmakers returned Monday to negotiate a long-delayed budget hampered by the coal industry’s downfall and low natural gas prices. Democratic Gov. Earl Ray Tomblin called the Republican-led Legislature back for the first time in two months to rekindle talks about the ...

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Marcellus jobs market takes another beating

rig worker

Low natural gas prices just keep hitting oil and gas industry workers in the Marcellus Shale. The state Department of Labor figures show 2,262 fewer oil and gas jobs when comparing quarter two of 2015 to 2014. Cabot Oil and Gas announced in a press release  a 58 percent reduction to $325 million as opposed to $774 in 2015. The ...

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New Mexico moves to cut spending to offset oil bust

An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

SANTA FE, N.M. (AP) — The state of New Mexico slashed revenue projections for this year and next by a quarter-billion dollars because of low oil and natural gas prices and took initial steps Saturday toward reducing general fund spending next year. A somber Senate Finance Committee unveiled budget amendments that would shave spending across state agencies this fiscal year, ...

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Oklahoma-based Devon Energy plans layoffs over next few months

OKLAHOMA CITY — Oklahoma City-based Devon Energy Corp. has announced that it is planning employee layoffs over the next few months. Company executives made the announcement during a town hall meeting with employees Wednesday morning. Spokesman Tim Hartley said that the layoffs are a necessary part of cost management efforts for Devon as oil and natural gas prices remain weak. ...

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Fuel price drops for third consecutive quarter

LAKELAND — With natural gas prices remaining low and coal prices falling to remain competitive, Lakeland Electric is reducing fuel charges by almost 8 percent at the start of the year and expects the savings to continue through 2016. The $3.50 reduction per 1,000 kilowatt-hours of energy used — $43.85 to $40.35 — will reduce the fuel price for the ...

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