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Why selling crude oil to China is good for America

exports, Bakken, china

Continental Resources, Inc. recently announced its first-ever sale of Bakken oil specifically for delivery overseas. Continental Resources has sold 1,005,000 barrels of crude oil for November delivery to Atlantic Trading and Marketing (“ATMI”), which intends to export the oil to China. “This is a historic day for Continental and begins a new chapter in our long-term strategy to establish multiple ...

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Rig count up 8, all natural gas

oil rig, rig count, Baker Hughes

The Baker Hughes Rotary Rig Count from last Friday showed an overall increase of 8 rigs drilling, but no new rigs are exploring for oil. All eight rigs are looking for natural gas, in contrast to last week’s report that showed nine new rigs were exploring for oil. Baker Hughes reported a new total of 915, up from 907 total the ...

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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. ...

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Rig count increase raises concerns

oil rig, rig count, Baker Hughes

The Baker Hughes weekly rotary rig count showed an increase of 12 total rigs July 7 for a total of 952 rigs drilling for oil and gas in the United States. Of the 952, 763 rigs are drilling for oil, up 7 from last week, while 189 are drilling for gas, an increase of 5. By state, Alaska and Oklahoma ...

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Bakken beefs up rig count, Oklahoma up 5

rig count, Baker Hughes

For the second week in a row, the Baker Hughes North American rotary rig count increase was led by areas outside of Texas. North Dakota’s Bakken oilfields saw an increase of three new rigs this week, while Oklahoma added five new rigs exploring for oil and gas, presumably in the Granite Wash and Cana Woodford basins. The Eagle Ford in ...

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Bakken leads rig count increase

Baker Hughes rig count, Williston, Bakken

The Baker Hughes weekly rig count total showed a small increase of six total rigs exploring for oil and gas Friday, led by an increase of three rigs in the Williston basin. Surprising areas of increase this week led to a net increase while many areas that have seen recent activity showed either losses or no increase at all. While ...

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U.S. Silica plans Permian frac sand plant

frac sand, U.S. Silica

Frederick, Maryland-based U.S. Silica announced plans Monday to build a new frac sand mine and plant in West Texas to serve the Permian Basin. The Permian has been growing steadily despite the recent oil slump, supported by increased production and recently discovered oil reserves by the U.S. Geological Survey at the end of last year. The projected budget for the ...

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Baker Hughes: Rig Count up another 11

oil rig, rig count, Baker Hughes

Breaking another record, the Baker Hughes Rotary Rig Count showed an other increase of 11 new rigs exploring for oil and gas this week. Despite some concern about overproduction, the rig count continues its upward climb, with a total of 927 rigs in the U.S. The total North American count is now 1059. Canada also increased its count by 33. ...

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