Wednesday, November 20, 2024

Alaska, California Rig Counts Surge

Overall Rig Count Up Four By Richard Rostad, analyst, Oil & Gas 360 Drilling activity expanded in the U.S. this week, partially making up for the decline seen last week, according to Baker Hughes. A net four rigs began drilling in the country, a change from the 14 that shut down last week. There are now 1,049 rigs active in

Apache Slashes CapEx, but Will Put Up To $1.8 Billion in Permian in 2019

Overall CapEx down 23% By Richard Rostad, analyst, Oil & Gas 360 Apache (ticker: APA) announced 2019 guidance today, showing the company’s response to the Q4 2018 oil price downturn. Like several other E&P companies, Apache has reduced its expected 2019 CapEx, and now plans to spend $2.4 billion in the year. This is a dramatic reduction from the company’s

OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

From Bloomberg It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news. While both those things happened in the past few months, the people paid to evaluate the shipping industry’s