Lisa
El-Amin
As Oil Production Scales the Heights, Texas E&P Jobs Disappear —TXOGA
As operational efficiencies give E&Ps the ability to produce more oil with fewer rigs, Texas employment in the oil patch has fallen five out of the first six months of 2024.
US Drillers Cut Oil, Gas Rigs for First Time in Three weeks
The oil and gas rig count, an early indicator of future output, fell by three to 586 in the week to Aug. 2. Baker Hughes said that puts the total rig count down 73, or 11%, below this time last year.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.
US Rig Count Makes Biggest Monthly Jump Since November 2022
The oil and gas rig count, an early indicator of future output, rose by three to 589 in the week to July 26.
Nabors’ High-spec Rigs Help Keep Lower 48 Revenue Stable in 2Q
Nabors’ second quarter EBITDA was down 1% quarter-over-quarter but the company sees signs of increased drilling activity in international markets the second half of the year.
Helmerich & Payne to Acquire KCA Deutag for $2B
H&P expects the acquisition of KCA Deutag to expand its international footprint, particularly in the Middle East, and enhance its global onshore drilling role.
US Drillers Add Oil, Gas Rigs for Second Time in Three Weeks
The oil and gas rig count, an early indicator of future output, rose by two to 586 in the week to July 19, its highest since late June.
US Drillers Cut Oil, Gas Rigs for Fifth Time in Six Weeks
The oil and gas rig count, an early indicator of future output, fell by one to 584 in the week to July 12.
US Drillers Cut Oil, Gas Rigs for Fourth Week in a Row
The oil and gas rig count fell by seven to 581 in the week to June 28.
US Drillers Cut Oil, Gas Rigs to Jan 2022 Low for Third Week
The oil and gas rig count fell by two to 588 in the week to June 21. Baker Hughes said that puts the total rig count down 94, or 14% below this time last year.