Saturday, January 4, 2025

California Drilling Plummets

Eight rigs shut down, all targeting oil Drilling activity declined this week, countering two weeks of expansion according to Baker Hughes’ Weekly Rig Count. A net eight rigs shut down this week, leaving 1,075 rigs active. This is even with the activity level seen in early December, and is just below the post-downturn high of 1,083. Six land-based rigs shut

Oil and Gas Workers Are the Most Efficient in 15 Years

Oil and gas companies have received well deserved acclaim for improving efficiencies in the wake of the downturn, particularly in terms of per-rig output and breakeven costs. One metric that is often overlooked, however, is productivity per person. The BLS reports 516,000 people worked in oil and gas extraction in October 2018. This figure includes both people directly involved in