The oil and gas rig count, an early indicator of future output, fell by three to 623 in the week to Dec. 15.
U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since November 2022.
The oil and gas rig count, an early indicator of future output, rose three to 625 in the week to Dec. 1.
As the oilfield service market faces headwinds from consolidation and a dwindling rig count, ProPetro CEO Sam Sledge sees Permian Basin demand picking up for next-generation equipment.
The oil and gas rig count, an early indicator of future output, rose two to 618 in the week to Nov. 17.
The combined oil and natural gas rig count, traditionally an early indicator of future output, fell by two to 616 in the week to Nov. 10, the lowest since February 2022.
Antero Resources’ management is hopeful the industry’s reduction in rig activity will help “balance” the natural gas market.
U.S. oil rigs fell eight to 496 this week, their lowest since January 2022, while gas rigs rose one to 118.
In October, the oil rig count rose by two in its first monthly increase since November.
The oil and gas rig count, an early indicator of future output, rose two to 624 in the week to Oct. 20.