Wednesday, January 22, 2025

Under Military Rule, Venezuela Oil Workers Quit in A Stampede

From Reuters Chauffeured around in a sleek black pick-up, the head of Venezuela’s oil industry, Major General Manuel Quevedo, last month toured a joint venture with U.S. major Chevron. Flanked by other trucks carrying security guards, Quevedo passed a handful of workers waiting by an oil well cluster. They wanted a word with the OPEC nation’s oil minister and president

U.S. Oilpatch Productivity Multiple Climbs Above 3.0 - Oil & Gas 360

Effective Rig Count Passes 2,700

Productivity growth is slowing EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins. The EERC is now 2,712, meaning the current level of growth would require 2,712 rigs from January 2014 to achieve. Rigs in today’s drilling environment are now 3.09 times more productive than January 2014 rigs, as operations have