Tuesday, December 31, 2024

U.S. Rigs Only 10 Away From 1,000

Horizontal rig count up by 17 U.S. drilling activity continued its steady rise towards 1,000 this week, according to Baker Hughes’ Weekly Rig Count. A total of six rigs came online this week, bringing the total number of active rigs to 990. All six rigs are land-based, as inland waters and offshore rig counts were unchanged. There are now 973

WPX Energy Adds Firepower to its Board

WPX Energy (ticker: WPX) announced that Valerie M. Williams has been elected to the company’s board of directors effectively immediately. According to WPX, Williams has more than 35 years of audit and public accounting experience with Ernst & Young, LLP, most recently as the Southwest Region Assurance Managing Partner where she had responsibility for a $500 million audit practice encompassing

Oil & Gas 360 - Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the country’s oi

How Venezuela Could Be the ‘Final Element’ that Tips Oil Markets into Deficit

From Reuters/MarketWatch  Venezuela’s crude-oil output is collapsing in the wake of the nation’s economic crisis, making the country the biggest wild card in OPEC’s effort to balance global supply and demand, the International Energy Agency said Thursday in a monthly report. Within the Organization of the Petroleum Exporting Countries, “the biggest risk factor is, and will likely remain, Venezuela,” the