Thursday, January 23, 2025

Rig Count Jumps to Four-Year High

1,063 rigs is highest level since March 2015 Drilling activity increased relatively rapidly this week, according to the latest edition of Baker Hughes’ Weekly Rig Count. A net 11 rigs came online this week, the largest single-week increase since early August. There are a total of 1,063 rigs running in the U.S., the highest since March 2015. This also marks

NatGas Inventories Lowest Since 2005: EIA

The annual gas inventory build is well behind schedule, as stocks are currently significantly outside the five year average. There are currently 2,956 Bcf of natural gas in storage in the U.S., according to EIA data released yesterday. This is: 17.5% below the 3,583 Bcf that was in storage at this point last year, and 17.0% below the five-year average

Fed 10th District Survey Pegs Region’s Breakevens between $35 and $85 per Barrel

The Federal Reserve Bank of Kansas City manages the central bank’s 10th District. The bank ran its third quarter survey from September 14, 2018 to September 28, 2018 and included 30 responses from firms located in its district, which includes: Colorado Kansas Nebraska Oklahoma Wyoming northern New Mexico western Missouri Federal Reserve District 10 Energy activity accelerated in Q3 Growth

China Swoops in on Canadian Oil That’s $50 Below U.S. Crude

From Bloomberg Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60 percent cheaper than U.S. benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy, sludgy crude. That’s because — apart from being a source of fuel — it’s rich in bitumen, a black residue