Rigs – Page 6 – Oil & Gas 360

Schlumberger Seals the Deal on a $300 million Contract in Australia

July 15, 2016

Schlumberger (ticker: SLB) subsidiary OneSubsea secured an engineering contract for the development of the Greater Enfield project off the northwest coast of Australia from Woodside Energy. Woodside announced on June 26, that the company would move forward with the development of the Greater Enfield project, expected to cost approximately $1.9 billion. Located 60 km off Exmouth in Western Australia the

WTI Climbs Near $50, Rig Count Increases

July 1, 2016

The U.S. rig count is up 10 to 431 The number of active rigs in the United States increased this week, according to information released by Baker Hughes Industries (ticker: BHI). The total number of rigs reached 431 this week, up ten from last week when the rig count fell slightly. WTI posted gains today despite the increased drilling activity,

Oil Prices Up Despite Increased Drilling Activity in the U.S.

June 17, 2016

Drilling activity up: the U.S. adds ten more rigs this week – more rigs drilling in the Barnett today than a year ago The rig count in the U.S. continued to climb for a third-straight week this week, according to information released from Baker Hughes Industries (ticker: BHI). Ten more rigs joined the total number of active rigs this week

Oil Down Over 2% As U.S. Rigs Increase

June 10, 2016

U.S. rig count increases to 414 The U.S. rig count continued to increase this week, according to information from Baker Hughes Inc. The total number of active rigs in the United States reached 414, up six from last week. Increases were in both oil and gas rigs this week, with BHI reporting three more of each active in the week

International Rig Count Up – First Time in 2016

June 7, 2016

The number of active international rigs increased to 955 in May The international rig count reached 955 in May, up nine from April, according to information from Baker Hughes Industries (ticker: BHI), which releases information on active international rigs once a month in addition to its weekly North American updates. Including rigs drilling in the U.S. and Canada, the total

U.S. Rig Count Rises for the First Time in Ten Months

June 3, 2016

U.S. rig count adds four to 408 Breaking a ten-month long decline, the U.S. rig count rose by four in the week ended June 3, 2016, according to information from Baker Hughes (ticker: BHI). The total U.S. rig count reached 408 today, sill down 53% from this time last year. The first increase in the rig count in 2016 was

Lost at Sea: Offshore Drillers Face Difficult Road Ahead

May 24, 2016

Oil prices have continued to move upward in recent weeks, and that has spurred the talk of rig counts possibly increasing and production coming back online. As oil prices flirt with the $50 mark, this may become a reality to onshore producers in the U.S. However one important area of production is still struggling to find solid footing: offshore oil

Total U.S. Rig Count Falls by Only 2 Rigs to 404

May 20, 2016

Count of U.S. Working Oil Rigs Holds Steady at 318 The total U.S. rig count continued its downward trend this week, but rigs targeting oil remained steady at 318. In past weeks, the majority of the rig count decline has been in the rigs targeting crude oil, rather than natural gas. The total rig count this week fell to 404,

Gas Rigs Increase as the Total Rig Count Continues to Fall

March 24, 2016

Total U.S. rig count down by 12 rigs this week The total number of rigs in the United States continues to fall as the oil price recovery remains insufficient to drill new wells. The U.S. rig count fell by 12 this week to 464, according to Baker Hughes, which released its weekly data a day early ahead of the Easter

Total U.S. Rig Count Down by Four Last Week

March 18, 2016

Oil Rig Count Rises by One, Oil Breaks $40 Barrier The U.S. rig count continued falling for a thirteenth-straight week in the week ended March 18, 2016, according to information from Baker Hughes. The total count fell by four to 476 with five fewer rigs drilling for gas reported partially offset by the addition of one oil rig. Oil rigs

U.S. Oil Production Sees First Year-Over-Year Decline in Four Years

March 9, 2016

Oil production in December 2015 down 166 MBOPD from a year earlier The decline in crude oil prices took longer to pull production down than many expected, but it is happening, according to data from the EIA. Crude oil production in December 2015 averaged 9.3 MMBOPD, down 166,000 barrels from December 2014. The decline in December oil production represents the

U.S. Rig Count Dips Below 500

March 4, 2016

Current U.S. rig count falls to second-lowest point since the Ford Pinto The U.S. rig count fell for the eleventh straight week in the week ended March 4, 2016, according to data from Baker Hughes. The latest decline in the rig count brought the total count in the U.S. to 489, the second lowest point recorded by Baker Hughes, reaching

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