Oil, gas rigs added for fifth time in six weeks
U.S. energy firms this week added oil and natural gas rigs for the fifth time in six weeks
The number of rigs running in the U.S. rose by 13 as of Sept. 8, according to Enverus Rig Analytics. The largest week-over-week changes occurred in the Anadarko Basin, adding five to reach 53, and the Gulf Coast, rising by four to 71. While the total U.S. active rig count is 116% higher than it was a year ago, rig numbers are still 33% below this time in pre-pandemic 2019.
Offshore units in the Gulf of Mexico started to return after Hurricane Ida slammed into the coast. According to Baker Hughes, four offshore rigs returned in Louisiana during the past week—last week, all 14 offshore oil rigs shut due to Ida.
WTI crude futures were trading at about $70/bbl Sept. 10, supported by growing signs of supply tightness in the U.S. as a result of Hurricane Ida. U.S. oil production, according to the latest government projection, is expected to slide from 11.3 million bbl/d in 2020 to 11.1 million bbl/d in 2021 before rising to 11.7 million bbl/d in 2022.
U.S. financial services firm Cowen & Co. said the independent E&P companies it tracks plan to increase spending by about 1% in 2021 versus 2020.
Trends
Recommended Reading
Montana Renewables Closes $1.44B DOE Loan for Facility Expansion
2025-01-13 - The expansion project will lift annual production capacity to about 300 million gallons of sustainable aviation fuel (SAF) and 330 million gallons of combined SAF and renewable diesel.
Equigas, CO2Meter to Partner in Offering Gaslab Detection Devices
2025-02-14 - The devices are used in industrial operations to monitor gas leaks and maintain air quality and safety compliance.
ChampionX’s Aerial Optical Gas Imaging Platform Secures EPA Approval
2025-03-05 - ChampionX Corp.’s aerial optical gas imaging platform combines optical technology with a gimbal system to detect and locate methane leaks.
Baker Hughes, Woodside Partner to Scale Net Power Platform
2025-03-06 - Net Power’s platform uses natural gas to generate power while capturing nearly all CO2 emissions, Baker Hughes said in a news release.
BP Monitoring Air Following Leak at Whiting Refinery
2024-12-27 - BP says the Midwest refinery is now operating normally.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.