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Natural Gas Rigs News

18 Jan 2022

Baker Hughes Finds US Drillers Add Most O&G Rigs Since April

Copyright namning/AdobeStock

U.S. energy firms this week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the wellpad.The oil and gas rig count, an early indicator of future output, rose 13 to 601 in the week to Jan. 14, its highest since April 2020, said Baker Hughes in its weekly report. The total count was up 228, or 61%, over this time last year.U.S. oil rigs rose 11 to 492 this week, their highest since April 2020, while gas rigs rose two to 109, their highest since March 2020.

21 May 2021

Oil Jumps on Weather Concerns in Gulf of Mexico

© Roman Krochuk / Adobe Stock

Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal.Brent crude futures rose $1.33, or 2%, to $66.36 a barrel by 1:06 p.m. ET (1606 GMT), while U.S. West Texas Intermediate was at $63.54 a barrel, up $1.61, or 2.6%.A weather system forming over the western Gulf of Mexico has a 40% chance of becoming a cyclone in the next 48 hours, the U.S.

08 May 2020

Oil rises 5% in second weekly gain on output cuts, demand hopes

© Pavel Ignatov / Adobe Stock

Oil prices settled 5% higher on Friday in their second consecutive week of gains as U.S. producers cut production with the number of drilling rigs falling to a record low, and as more states moved ahead with plans to relax lockdowns intended to halt the coronavirus pandemic.The number of operating oil and natural gas rigs fell by 34 to an all-time low of 374 this week - reflecting data going back 80 years - as the energy industry slashes output and spending to deal with the coronavirus…

17 Nov 2017

US Oil Rig Count Steady this Week -Baker Hughes

© Aneese / Adobe Stock

U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count, an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash. The increase in drilling lasted 14 months before stalling in August…

21 Oct 2016

US Drillers Extend Rig Recovery

The number of rigs drilling for oil in the United States rose again this week, extending its second-best streak of no cuts into a 17th straight week, with analysts expecting more additions as crude prices hold over $50 a barrel. Drillers added 11 oil rigs in the week to Oct. 21, bringing the total count up to 443, the most since February, but still below the 594 rigs seen a year ago, according to energy services firm Baker Hughes Inc on Friday. That 17-week streak of not cutting rigs matched a stretch in 2010, making it the second-longest run since 1987, following 19 weeks in 2011. The Baker Hughes oil rig count plunged from a record of 1…

16 Sep 2016

US Oil Drillers Add Rigs for 11th Week in 12

U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad. That is, however, the longest streak of not cutting rigs since 2011 with the rig count increasing or holding steady every week so far this quarter. Drillers added two oil rigs in the week to Sept. 16, bringing the total rig count up to 416, the most since February but still below the 644 rigs seen a year ago, energy services firm Baker Hughes Inc said. The oil rig count plunged from a record high of 1…

01 Jul 2016

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the well pad since August that signaled a near-two year rout in drilling may have ended. Drillers added 11 oil rigs in the week to July 1, the biggest weekly increase since December, bringing the total rig count up to 341, compared with 640 a year ago, energy services firm Baker Hughes Inc said. In the Permian basin in West Texas, the number of rigs rose by four for a third week in a row to a four-month high of 154. In the first half of the year, drillers cut on average eight rigs per week for a total of 195, compared with last year's cuts of 18 rigs per week on average for a total of 963, the biggest decline since at least 1988.

15 Apr 2016

US Oil Rig Count Falls to November 2009 Lows

U.S. energy firms cut oil rigs for a fourth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said on Friday, as energy firms keep slashing spending despite a more than 50 percent jump in crude futures since hitting a near 13-year low in February. Drillers cut 3 oil rigs in the week to April 15, bringing the total rig count down to 351, Baker Hughes said in its closely followed report. The number of U.S. oil rigs operating compares with the 734 rigs operating in the same week a year ago. In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since at least 1988 amid the deepest rout in crude prices in a generation.

24 Mar 2016

US Drillers Cut Rigs for 14th Week in a Row

U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation. Oil rigs alone fell 15 to 372, the lowest level since November 2009, oil services company Baker Hughes Inc  said in its closely followed report. Looking forward however, analysts forecast the rig count will bottom in a couple months before recovering later this year when they expect energy prices to rise. Drillers cut 12 oil and gas rigs in the week to March 24, bringing the total rig count down to 464, the report said. That compares with 1,048 oil and gas rigs operating in the same week a year ago.

11 Mar 2016

US Oil Drillers Cut Rigs for 12th Week in a Row

U.S. energy firms this week cut oil rigs for a 12th week in a row to the lowest level since December 2009 as drillers continue to slash capital expenditures despite crude prices having apparently bottomed, data showed on Friday. Looking forward, many analysts think the rig count will rebound later this year when prices rise. Drillers removed six oil rigs in the week ended March 11, bringing the total rig count down to 386, oil services company Baker Hughes Inc said. That compares with 866 oil rigs operating in the same week a year ago. Drillers started to steadily reduce their rig count after crude prices began to collapse mid-2014. U.S. crude futures were trading just under $39 a barrel, up 8 percent on the week and set for its fourth weekly gain on forecasts of tighter supplies as U.S.

08 Jan 2016

US Oil Rig Count Lowest Since 2010

The U.S. oil rig count this week dropped to the lowest level in over five years as energy firms stepped up the rate of idling rigs after one of the worst years in almost 30 years for drilling, data showed on Friday. Drillers removed 20 oil rigs in the week ended Jan. 8, bringing the total rig count down to 516, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed report. That was the seventh decrease in the past eight weeks and brings the total rig count down to about a third of the 1,421 oil rigs operating in same week a year ago. In 2015, drillers idled a total of 963 oil rigs, the first annual cut since 2002 and the biggest annual decline since at least 1988, according to Baker Hughes.

04 Dec 2015

US Oil Rigs Cut for 13th Week in 14

U.S. energy firms this week cut oil rigs for the 13th week in the last 14, data showed on Friday, a sign drillers were still waiting for higher prices before returning to the well pad. On Friday, OPEC decided to keep production near record highs despite depressed prices, as a way to boost market share by forcing rivals to reduce output. Drillers removed 10 oil rigs in the week ended Dec. 4, bringing the total rig count down to 545, the least since June 2010, oil services company Baker Hughes Inc said in its closely followed report. That decrease brings the total rig count down to about a third of the 1,575 oil rigs operating in same week a year ago. Since the end of the summer, drillers have cut 120 oil rigs. U.S. oil futures averaged $41 a barrel so far this week, down from $42 last week.

01 May 2015

US Weekly Oil Rig Count Decline Slows

The fall in the U.S. oil rig count slowed this week, data showed on Friday, suggesting the collapse in drilling may be coming to an end as prices recover after falling 60 percent from June to March. The oil rig count fell by 24 this week to 679 active rigs, the smallest drop since early April, after the loss of 31 and 26 rigs in the prior two weeks, oil services firm Baker Hughes Inc said in its closely-watched report. With the oil rig decline this week, the number of active rigs has fallen for a record 21 weeks in a row to the fewest since September 2010, according to Baker Hughes data going back to 1987. Since the number of oil rigs peaked at 1,609 in October, producers have cut spending, eliminated jobs and idled more than half of the country's rigs. The U.S.

31 Oct 2014

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive, data showed on Friday. The number of rigs drilling for oil fell by 13 to 1,582 in the latest week, the fourth weekly decline in the past six weeks, according to data from oil services firm Baker Hughes on Friday. Natural gas rigs rose by 14 to 346 rigs, the highest since February, the data show. "While the oil rig count might be down, we're cruising along at really high numbers," said Gene McGillian, a senior analyst at Tradition Energy. Despite the recent declines, the number of rigs seeking oil is up from 1,376 rigs a year ago and hit a high of 1,609 a few weeks ago, the most since at least 1987.

04 Sep 2013

Maritime Security Demonstration Sees Speedboat Demolished

Photo courtesy of Alcyonics

Law enforcement looks on as speedboat driver demolishes his own engine in the name of greater safety for professional mariners in a Florida display of a new maritime security product by Alcyonics along with partner firm Knowledge Bridge International. Among the guests in attendance were a large, U.S.-based oil and gas exploration company and a representative of the Republic of the Marshall Islands Ship Registry. A small speedboat hydroplaned at top speed toward a series of small buoys.

22 Jun 2004

Ridge Addresses Port Security

New security measures are being implemented across the United States providing for safer ports in America, U.S. Department of Homeland Security Secretary Tom Ridge announced today. With the implementation of these international standards, in advance of the July 1st deadline, the U.S. is better able to harden the port’s physical infrastructure, verify the security of individual vessels before they approach a U.S. port, and better restrict access to the port area. Speaking from the Ports of Los Angeles/Long Beach…