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• US drillers cut oil and gas rigs to lowest since Feb 2022
  U.S. energy firms this week cut the number of oil and natural...
  U.S. energy firms this week cut the number of oil and natural gas rigs operating to their lowest since February 2022, energy services firm Baker Hughes said in its closely followed report on Friday.
  
  The total oil and gas rig count, an early indicator of future output, fell by 7 to 618 in the week to Nov. 3.
  
  Baker Hughes said that puts the total rig count down 152 rigs, or 20%, below this time last year.
  
  U.S. oil rigs fell 8 to 496 this week, their lowest since January 2022, while gas rigs rose 1 to 118.
  
  
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• Closing Oil & Gas Prices for Friday
  Friday brought a 2% drop in crude oil prices but they also finished...
  Friday brought a 2% drop in crude oil prices but they also finished nearly 6% down for the week. The Friday close came a day after prices managed a rebound on Thursday.
  
  Benchmark U.S. crude oil for December delivery fell $1.95 to $80.51 per barrel Friday. Brent crude for January delivery fell $1.96 to $84.89 per barrel.
  
  Wholesale gasoline for December delivery fell 5 cents to $2.20 a gallon. December heating oil fell 11 cents to $2.92 a gallon. December natural gas rose 5 cents to $3.52 per 1,000 cubic feet.
  
  
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• U.S. stocks close higher Friday, score biggest weekly gains in about a year
  U.S. stocks closed sharply higher Friday, extending a monster rally in equities that saw the big three...
  U.S. stocks closed sharply higher Friday, extending a monster rally in equities that saw the big three indexes sweep to their biggest weekly gains of 2023. The Dow Jones Industrial Average DJIA rose about 222 points, or 0.7%, ending near 34,061 on Friday to score a 5.1% weekly gain.
  
  The S&P 500 index SPX gained 0.9% Friday and 5.9% for the week, while the Nasdaq Composite Index COMP climbed 1.4% for a 6.6% weekly gain. Stocks rallied Friday after an October jobs report suggested some softening in what has been a robust labor market despite the Federal Reserve’s dramatic rate hikes to fight inflation. That reignited hopes that the Fed might make a policy pivot to a regime of lower interest rates next year, after tough talk in recent months on the need to likely keep them elevated for longer than earlier anticipated.
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• Chesapeake Energy cites personal best drilling record
  Chesapeake Energy said this week it recorded the fastest drilling program performance...

  Chesapeake Energy said this week it recorded the fastest drilling program performance of all time in its operations in the Marcellus play. The company averaged 1,367 feet a day during the third quarter and it also included four of the top 10 longest laterals in company history.

  
  It also stated that year-to-date, the firm had acquired 34,000 additional net lease acres in the Marcellus and Haynesville plays. The average cost was $1,500 per acre.
  
  The company expects to drill 35 – 45 wells and place 50 – 60 wells on production in the fourth quarter of 2023. The company’s operating plan remains flexible, as illustrated by the deferral of third quarter turn to lines in the Marcellus, and is prepared for further adjustments based on market conditions, stated the firm in its 3Q report.
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• U.S. job growth shows signs of slowdown
  Employers added 150,000 jobs in October on a seasonally adjusted basis, the Labor...

  Employers added 150,000 jobs in October on a seasonally adjusted basis, the Labor Department said on Friday.

  
  

  The increase was slightly below what economists had forecast, but not too different from the sort of monthly jobs growth the U.S. economy was experiencing prepandemic.

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