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Tag Archives: rig count

Pennsylvania and Ohio drill permit report, Oct. 18-24

Pennsylvania Pennsylvania’s oil and gas permit activity took a bit of a tumble since last week, but still shows signs of improvement from earlier this month. The state’s Department of Environmental Protection’s Office of Oil and Gas Management approved a total of 58 permits throughout the state. As the state’s approved permits pile up, so could the Pennsylvania’s tax on ...

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US rig count declines by 14 this week to 795

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week declined by 14 to 795. It was the sixth consecutive week of declines. Houston’s Baker Hughes said Friday that 605 rigs were seeking oil and 189 explored for natural gas. One was listed as miscellaneous. A ...

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2,000 more layoffs at U.S. Steel debated

U.S. Steel Corp. is putting 2,000 workers in Illinois on notice that they could be laid off as the company considers temporarily idling its Granite City Works to deal with sluggish sales. Granite City primarily supplies steel to the company’s Lone Star Tubular Works in Texas, which makes pipe for the oil and gas industry. Lone Star has reduced production ...

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OPEC sees oil prices returning to $80/barrel by 2020

OPEC forecasters expect oil prices will rise by no more than $5 a barrel a year to reach $80 by 2020, with a slowing in rival non-OPEC production growth not enough to absorb the current oil glut, according to OPEC sources. The sources said the figures came from an updated mid-term strategy report discussed this week by representatives from the ...

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Texas drilling permits down in Aug

Drilling permits have plummeted in Texas from the same time one year ago according to numbers reported by the Railroad Commission of Texas (RRC). According to the RRC, the regulation authority issued a total of 864 original drilling permits in August 2015 compared to 2,440 in August 2014. The August total included 730 permits to drill new oil or gas ...

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Oil prices dip, stock market rally stems losses

LONDON – Crude oil prices slipped on Wednesday amid a persistent oversupply of physical oil, but stock market gains globally helped to stem the losses. European shares rose in early trade, buoyed by an 8 percent jump in Japanese stocks and the prospect of more stimulus from Chinam soothing investors rattled by recent market turmoil. Yet concerns remained over the ...

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