Home / Tag Archives: Oil price

Tag Archives: Oil price

Rig count drops by 5

oil rig, rig count, Baker Hughes

The Baker Hughes North America Rotary Rig Count dropped by 5 last week, with the largest overall dips in Texas. The Permian Basin lost 2 of its rigs, while the Eagle Ford lost 3. In total, Texas lost 7 rigs, while Louisiana lost 1. Interestingly, all the rigs lost were exploring for gas. The oil rig count actually increased by 3. ...

Read More »

U.S. rig count declines by 1 to 568

oil rig, rig count, Baker Hughes

Baker Hughes’ latest rig count report shows the number of rigs drilling for oil rose by two this week to 452. Rigs drilling for natural gas was down 2. The total rig count fell by one to 568, still higher than the May low of 404. Total offshore rigs are down 12 from last year at this time. States losing ...

Read More »

Dalrymple to decide how to deal with depressed budget

North Dakota budget, Dalrymple

BISMARCK, N.D. (AP) — North Dakota Gov. Jack Dalrymple is slated to decide Wednesday whether to call a special session of the Legislature to address the state’s ailing treasury in the wake of depressed oil and farm commodity prices. The Republican governor announced Tuesday in a statement that he would “outline options to resolve the shortfall” at a news conference ...

Read More »

Group advises North Dakota budget use lower oil projections

North Dakota, budget projections

BISMARCK, N.D. (AP) — An advisory group of North Dakota lawmakers, state officials and business leaders has recommended much lower projections for oil prices and production when crafting budgets. A dramatic drop in North Dakota tax collections due to depressed oil and farm commodity prices has North Dakota scrambling to make up for millions of dollars in potential shortfalls. State ...

Read More »

Oil closes near $50 as US stocks claw back half ground lost after “Brexit” vote

oil price, Brexit

U.S. stocks were on track to close sharply higher in late-afternoon trading Wednesday, echoing strong gains in global markets as investor worries about Britain’s vote to leave the European Union eased. Traders also got encouraging data on U.S. consumer spending. Energy companies led the rally as the price of crude oil closed higher. Health care, industrials and financials stocks were ...

Read More »