Thaimar Ramirez, president and general manager for Occidental Petroleum’s Midland Basin Business Unit, said 100 days after closing the CrownRock acquisition production guidance keeps going higher.
A reduction in the rig count would also slow the growth of natural gas output from the region, benefitting gassy Gulf Coast players, according to Enverus.
As the Permian Basin matures and global oil demand grows, Dan Pickering, chief investment officer for Pickering Energy Partners, offers his thoughts on the basin’s future, costs, demand and the price of oil.
Despite a decline in the number of rigs in the U.S., technological advances and improved efficiencies have kept production going, allowing companies to achieve more with fewer resources.
Thaimar Ramirez, president and general manager for Occidental Petroleum’s Midland Basin Business Unit, said 100 days after closing the CrownRock acquisition production guidance keeps going higher.
The oil and gas rig count rose by seven to 589 in the week to Dec. 6, its highest since mid-September.
A reduction in the rig count would also slow the growth of natural gas output from the region, benefitting gassy Gulf Coast players, according to Enverus.
As the Permian Basin matures and global oil demand grows, Dan Pickering, chief investment officer for Pickering Energy Partners, offers his thoughts on the basin’s future, costs, demand and the price of oil.
The oil and gas rig count fell by one to 583 in the week to Nov. 22, the lowest since early September. Baker Hughes said that puts the total rig count down 39, or 6% below this time last year.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four weeks.
The oil and gas rig count was steady at 585 in the week to Nov. 8, Baker Hughes said on Nov. 8. Baker Hughes said that puts the total rig count down 31 rigs, or 5% below this time last year.
Despite a decline in the number of rigs in the U.S., technological advances and improved efficiencies have kept production going, allowing companies to achieve more with fewer resources.
The oil and gas rig count held at 585 to Nov. 1. Baker Hughes said that puts the total rig count down 33 rigs, or 5% below this time last year.
Nabors Industries saw broad growth across key international geographies in third-quarter 2024, with more rig deployments expected.