The latest rig report by Baker Hughes Co. showed Oklahoma’s rig activity remained steady with a count...
The latest rig report by Baker Hughes Co. showed Oklahoma’s rig activity remained steady with a count of 64 active oil and gas rigs, the same number as last week.
The Ardmore Woodfordstayed at 4 rigs while the Arkoma Woodford continued with 7 rigs. The Cana Woodford gained 2 rigs to reach 23. The Granite Washwas unchanged with 7 active rigs.
Russian energy giant Gazprom may be able to withstand Western sanctions by buying back its bonds
High natural gas prices have put ...
High natural gas prices have put Gazprom on track for sky-high profits this year – and the state-run energy giant may use the extra cash to better insulate itself from Western sanctions, according to Barclays.
Gazprom reported profits of 2.5 trillion rubles ($42 billion) in the first six months of this year, meaning it's already surpassed last year's $29 billion. Even conservative estimates suggest it has already made more than $70 billion from gas sales this year, according to Barclays.
"High gas prices have provided Gazprom with financial flexibility," said a team led by energy analyst Amarpreet Singh in a recent research note. "On conservative estimates, Gazprom has already generated more revenue from gas sales in 2022 than in the whole of 2021, which was already the most profitable for the group in recent years."
US Drillers Add Oil, Gas Rigs for First Time in Three Weeks
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks as relatively...
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks as relatively high crude prices encouraged some firms to drill more, mainly in the Permian Basin.
The total oil and gas rig count, an early indicator of future output, rose four to 763 in the week to Sept. 16, its highest since August, energy services firm Baker Hughes Co. said in its closely followed report.
Baker Hughes said that puts the total rig count up 251, or 49%, over this time last year.
U.S. oil rigsrose eight to 599 this week, while gas rigsfell four to 162.
