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Tag Archives: rig count

Service companies keep cutting as rigs keep falling

Permian Basin producers again dropped drilling rigs this week, Baker Hughes reported Friday, as service companies announced another round of job cuts. Baker Hughes counted 12 fewer rigs in the Permian Basin, leaving 246 drilling for oil and gas in the region. About 74 percent drill horizontal wells as producers focus on core areas. Nationally, the oil and gas rig ...

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America’s fracklog could be the next bump after the bust

America has strolled into 2015 claiming the title of the world’s top producer of petroleum and natural gas hydrocarbons. But thanks to low oil prices, holes are drilled but uncompleted, and according to a new analysis, America’s fracklog has skyrocketed. A recent Bloomberg Intelligence analysis found that the number of wells waiting to be hydraulically fractured, known as the fracklog, ...

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US oil and natural gas rig count drops by 22 to 932

A fracking rig sits in an farmers field in Colorado

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 22 this week to 932 amid depressed oil prices. Houston-based Baker Hughes said Friday 703 rigs were seeking oil and 225 explored for natural gas. Four were listed as miscellaneous. A year ago, 1,861 rigs were active. Among ...

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US oil and natural gas rig count drops by 34 to 954

rig dark

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices. Houston-based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Three were listed as miscellaneous. A year ago, 1,831 rigs were active. Among ...

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Less rigs and more production

drills

One company operating in the Marcellus and Utica Shale formations has managed to nearly double its daily production during the first quarter and cut its rig count in the formations by almost half. As reported by the Pittsburgh Business Times, Antero Resources shared in its more recent operational update that its production increased by 89 percent, bringing its daily average ...

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