National drilling activity declined for the first time in three weeks. Oilfield services firm Baker Hughes...
National drilling activity declined for the first time in three weeks.
Oilfield services firm Baker Hughes said Friday that the combined US rig countdropped two rigs to 619 for the week. That’s down 140 rigs or 18% below the 759 rigs reported last February.
The number of rigs drilling for crude oil was unchanged at 499 for the week and is down 100 rigs from 599 a year ago. The number of rigs seeking natural gas dropped by two to 117 for the week, 41 less than the 158 counted the previous year.
Texas dropped one rig for 377 rigs at work across the state. That’s 74 rigs fewer than the 377 seen last year. New Mexico also dropped one rig for 98 rigs. All other major producing states were unchanged.
The Permian Basin again bucked the national and state trend, adding one rig for 311 rigs active in the region, still 43 less than the 354 last year.
Texas, N.M. contribute to Nov. US oil production record
Record-setting crude oil output in Texas and New Mexico helped push US...
Record-setting crude oil output in Texas and New Mexico helped push US crude production to an all-time high of 13.31 million barrels per day in November, marking a 0.6% increase from October, according to the Energy Information Administration. Gross natural gas production in the contiguous US also rose to a record 118.1 Bcf/d in November, driven by gains in Pennsylvania and Texas, the EIA reported.
US LNG trade holds strong in Jan. despite weather impacts
S&P Global Commodity Insights data show that US liquefied natural...
S&P Global Commodity Insights data show that US liquefied natural gas exports reached 9.43 million short tons in January, nearing the previous month's record, despite LNG policy uncertainty and weather-induced cargo cancellations. Europe remained the top buyer of US LNG, followed by Asia, South America and North America.
The job market is hotter than the Last Dab. The US economy added 350,000 jobs in January—about double what economists had expected. The unemployment rate held steady at 3.7%, meaning it’s been below 4% for two years and, according to CNN, you’d have to go back to when President Nixon was in office to see it stay that low for that long. While that’s good news for working Americans and job seekers, it probably means Jerome Powell and Co. won’t be in any rush to cut interest rates since it doesn’t appear the economy is cooling down.
Tesla is recalling 2.2 million cars because their warning lights are too small. But it’ll just be an over-the-air software update that doesn’t require drivers to do anything out of the ordinary.
Greta Thunberg was cleared of charges stemming from her participation in a protest that blocked the entrance to a London oil and gas industry conference.
A federal judge has pushed back the trial date for Donald Trump’s election interference case in Washington, DC, which had been set for March 4, while the Supreme Court weighs the former president’s claim that he’s immune from prosecution.
Carl Weathers, best known for his roles in the Rocky films and Predator, has died at age 76.
U.S. Conducts Retaliatory Strikes in Iraq and Syria Against Iranian Proxies
The United States on Friday carried out a series of military strikes against Iran-backed...
The United States on Friday carried out a series of military strikes against Iran-backed militants in half a dozen sites in Iraq and Syria, according to a U.S. Defense Department official, marking a sharp escalation of the war in the Middle East that the Biden administration has for four months sought to avoid.
President Biden had promised to respond to a drone attack in Jordan on Sunday that killed three American soldiers and injured at least 40 more service members. The military action sought to send a message to Iran and the militias it backs that continued attacks on U.S. troops in the region and international ships in the Red Sea would draw a response.
