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U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fourth week in a row for the first time since July 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by 3 to 746 in the week to March 10, the lowest since June. Despite this week’s rig decline, Baker Hughes said the total count was still up 83 rigs, or 13%, over this time last year.
U.S. oil rigs fell by 2 to 590 this week, also their lowest since June, while gas rigs also fell by 1 to 153.
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Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
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Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
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by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
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