US shale companies produce more crude using fewer rigs
August 13, 2024
US shale companies produce more crude using fewer rigs
Equinor Site Remains Shut In Following Drilling Rig Fire in Karnes County
August 26, 2019
From The Houston Chronicle A natural gas well belonging to the Norwegian oil giant Equinor remains shut in following a weekend fire at one of its drilling sites in Karnes County. The fire happened at Equinor’s Neller-Runge 1-Runge 2 lease off FM 885 a few miles south of Runge around 3:45 a.m. Saturday, the Karnes County Sheriff’s Office reported. Crews
Former Schlumberger CEO Recommended for Chairman Role at Borr Drilling
August 22, 2019
By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda, has recommended former Schlumberger (stock ticker: SLB) CEO Paal Kibsgaard be appointed as the company’s new chairman, following a unanimous
U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA
August 12, 2019
From Reuters U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen
Borr Drilling Awarded Contract by Pemex
August 6, 2019
By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling is awarded its fourth Mexican contract in less than nine months Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has been awarded a contract by Petróleos Mexicanos (Pemex) for the employment of a jack-up drilling rig. Previously, the company has entered into two other similar
Texas Shale Pioneers Struggle to Appease Investors
July 30, 2019
From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the
Transocean Revolving Credit Facility Jumps to $1.36 Billion
May 15, 2019
Transocean Ltd. Announces Revolving Credit Facility Increase to $1.36 Billion
Rig Count Sinks Beneath a Milestone Marker
April 29, 2019
First time below 1,000 since March 2018 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell sharply today continuing the overall downward trend according to Baker Hughes’ Weekly Rig Count. A net 21 rigs shut down in the week, the largest decline since mid-January. This week’s drop has pushed the U.S. rig count below 1,000 rigs, the first
Fourth Week of Declining Rig Activity
March 15, 2019
One rig comes offline as operations shift By Richard Rostad, analyst, Oil & Gas 360 U.S. drilling activity declined yet again this week, the fourth decline in a row, according to Baker Hughes’ Weekly Rig Count. A net one rig shut down this week, a far smaller decline than the 11 that came offline last week. There are now a
Drilling Rigs Continue to Drop Across North America
February 22, 2019
Rig counts fall in top four states By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell in the U.S. and Canada this week, as producers continue to adapt to lower oil prices, according to Baker Hughes, which tracks drilling activity every week. A net four rigs shut down in the week, leaving 1,047 rigs active in the U.S.
International Drilling Continues Near Post-Downturn Highs
February 7, 2019
Overall rig count falls by two By Richard Rostad, analyst, Oil & Gas 360 International drilling activity declined slightly in January, but remains near post-downturn highs, according to Baker Hughes. A net two rigs came offline in January, bringing the international total to 1,023 rigs. Operations shifted significantly in favor of offshore drilling, as nine land-based rigs have shut down
