Tuesday, January 14, 2025
Roughnecks at drill site.

Total U.S. Rig Count Up by 21, Half in Oklahoma

U.S. rigs move to Bakken, Mississippian, Arkoma Woodford U.S. Drilling activity has continued to rise this week, according to Baker Hughes’ (ticker: BHI) weekly rig count for March 17, 2017. The total number of rigs active in the U.S. grew by 21 this week, with land rigs up by 22. This brings the total rigs active in the U.S. to

Chinese Oil Production Dives by 8% in 2017

Demand is not dropping, but China’s oil production has been decreasing since November 2015 Chinese oil production so far this year is down 8%, as the world’s fifth largest oil producer continues to be squeezed by lower commodity prices. China has produced 230.5 million barrels of oil in January and February this year, down from the 250 million barrels produced

U.S. Propane Inventories Drop as Exports Soar: EIA

59 million barrel draw since October is largest ever U.S. propane inventories saw the largest draw on record from October to March this year, according to a note released by the EIA today. Propane inventories had been above normal levels since 2014, rising above 100 million barrels in both 2015 and 2016. Inventories in early October were about 19 million

Contango Announces Fourth Quarter and 2016 Financial Results

Contango Oil & Gas (ticker: MCF) announced today its financial results for the fourth quarter and year ended December 31, 2016. Fourth Quarter Highlights Production of 5.9 Bcfe for the quarter, or 64.3 Mmcfed Adjusted EBITDAX, on a recurring basis, of $8.2 million for the quarter Commenced drilling in our newly acquired Pecos County acreage in the Southern Delaware Basin, targeting the Upper Wolfcamp formation Reduced