• Oil Rigs: Rig Count Declines

    7 monthes ago - By Calculated Risk

    A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 3, 2018:
    • A shockingly bad week for rig counts, notwithstanding that it was expected
    • Total oil rigs fell, -2 to 859
    • Horizontal oil rigs collapsed, -6 to 756
    • The apparent breakeven to add horizontal oil rigs came in around $75 / barrel WTI
    • Vertical oil rigs are at their highest level since last November - is that a precursor to rising horizontal rigs a few weeks later?
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  • National rig count down by 4 to 1,044; West Virginia loses 3

    National rig count down by 4 to 1,044; West Virginia loses 3

    7 monthes ago - By Chron

    HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. decreased by four this week to 1,044.
    At this time a year ago there were 954 active rigs.
    Houston oilfield services company Baker Hughes reported Friday that 859 rigs drilled for oil this week and 183 for gas. Two were listed as miscellaneous.
    Among major oil- and gas-producing states, Wyoming gained two rigs and Louisiana and Pennsylvania each increased by one.
    West Virginia lost three rigs, Colorado and New Mexico each decreased by two and Alaska and North Dakota each lost one.
    Arkansas, California, Kansas, Ohio...
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