Oil Rig Count Unchanged, Gas Rigs +2; Oklahoma loses 3
Both the total number of land drilling rigs and...
Both the total number of land drilling rigsand those operating in the inland waters of the US climbed +1 (each) this week, according to data compiled by energy services firm Baker Hughes.
Oil and gas rigs in the US expanded by two this week through Friday,with oil staying at 591 and the count for gas increasing to 161 from 159 the week prior. A year earlier, the US had 552 oil rigs and 144 gas rigs in operation, its data showed. Miscellaneous rigs were unchanged at three, compared with two a year ago. The Inland Waters gained 1 new rig, compared with zero running a year ago.
Overall, there were 755 rigs operating in the US last week (including Misc. and Offshore) compared with 698 rigs last year. Among US states, top producer Texas was unchanged at 377 while Oklahoma lost three and Louisiana gained three.
The Marcellus Shale will continue to play a predominant role as demand for natural gas and natural gas...
The Marcellus Shale will continue to play a predominant role as demand for natural gas and natural gas liquids remains strong in the US and abroad, outgoing Range Resources CEO Jeff Ventura says. Range COO Dennis Degner, who will replace Ventura, says the company is demonstrating resilience and is "still delivering on stated objectives and generating free cash flow."
Marathon to pay $27.5M penalty for Tesoro plant pollution
The Justice Department ordered Marathon Petroleum to pay $27.5 million after its Tesoro Refining and...
The Justice Department ordered Marathon Petroleum to pay $27.5 million after its Tesoro Refining and Marketing plant in Martinez, Calif., failed to lower levels of nitrous oxide emissions. Tesoro will also have to forego hundreds of annual tradable emission credits in California.
Benchmark U.S. crude oil for June delivery rose $2.02 to $76.78 a barrel Friday....
Benchmark U.S. crude oil for June delivery rose $2.02 to $76.78 a barrel Friday. Brent crudefor June delivery rose $1.17 to $79.54 a barrel.
Wholesale gasoline for May delivery rose 5 cents $2.58 a gallon. May heating oil rose 3 cents $2.38 a gallon. June natural gasrose 5 cents to $2.41 per 1,000 cubic feet.
Dow finishes up over 270 points Friday, notching 2.5% gain for April
U.S. stocks ended April higher on Friday, with the Dow Jones Industrial Average booking its best monthly...
U.S. stocks ended April higher on Friday, with the Dow Jones Industrial Average booking its best monthly gain since January. Despite renewed focus on stress in the U.S. banking system, major stock indexes were able to post gains on Friday to end the week and month on higher ground, in part as earnings reports from several big technology companies, including Meta Platforms Inc. META, +0.74% were received positively by investors. The Dow DJIA, +0.80% rose about 272 points Friday, or 0.8%, ending near 34,098, according to preliminary FactSet levels. The S&P 500 index SPX, +0.83% posted a 0.8% gain, while the Nasdaq Composite Index COMP, 0.69% advanced 0.7%. Volatility in the stock market has remained in check, even as First Republic Bank FRC, -43.30% has been exploring talks with multiple partners about strategic options, including potentially asset sales, as its stock price has retreated by about 97% on the year through Friday. For the week, the Dow gained 0.9% and 2.5% for the month, its highest percentage gain in a month since January, according to Dow Jones Market Data. The S&P 500 rose 0.9% for the week and 1.5% in April, while the Nasdaq gained 1.3% for the week and ended the month nearly unchanged.
