rig count

Oil & Gas

Rig count holds flat as oil prices rise


The nation's tally of active drilling rigs held flat this week as rising U.S. crude oil prices flirted with the $60 per barrel threshold, according to the weekly count from the Houston oilfield services firm Baker Hughes.


US rig count falls after five months of growth


The streak is broken. For the first time in 23 weeks, the number of oil and gas rigs in U.S. fields fell — albeit just by one rig, at the end of a long, slow fall in crude prices.


US rig count nets 13th consecutive gain


Oil companies set up more drilling rigs in U.S. oil fields over the past week, expanding the nation’s rig count for the thirteenth consecutive week, Baker Hughes said Thursday.

Oil & Gas

U.S. oil drillers add rigs despite crude prices collapse


U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June, data showed on Friday. That was a sign some drillers followed through on plans to add rigs announced in May and June when U.S. crude futures were averaging $60 a barrel. U.S. crude futures so far this week however have traded around $48. The rig count gain this week was the fourth increase in the past 34 weeks, bringing the total rig count up to 664, the highest early May, oil services company Baker Hughes Inc said in its closely followed report.


Oil rigs in US drop by 37 to lowest level since April


US oil drillers, facing the lowest crude prices in five years and rising competition from suppliers abroad, idled the most rigs since 2012. Rigs targeting oil declined by 37 to 1,499 in the week ended December 26, the lowest since April, Baker Hughes Inc said, extending the three-week decline to 76. Those drilling for natural gas increased by two to 340, the Houston-based field services company said. The total rig count, which includes one miscellaneous rig, dropped 35 to 1,840, also an eight-month low.

Oil & Gas

Long-term view – what’s that?

A couple of weeks ago, the Norwegian Petroleum Directorate revealed that the IOR prize for 2008 will not be awarded. The oil prize is presented to fields, companies or individuals that exhibit the "courage, willingness and ability" to improve oil recovery on the Norwegian Continental Shelf beyond statutory expectations.