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2015-01-31 15:55:00

U.S.: 90 RIGS DOWN

U.S.: 90 RIGS DOWN

The US drilling rig count plunged 90 units—a majority of which were in Texas—to settle at 1,543 rigs working during the week ended Jan. 30, Baker Hughes Inc. reported.

That total is the lowest since June 18, 2010, and 242 units fewer compared with this week a year ago. The count has now fallen in 9 consecutive weeks, losing 377 units during that time.

During the week, 86 of the rigs lost were land-based, which now totals 1,482. Offshore rigs dropped 5 units to 49. Rigs drilling in inland water edged up a unit to 12.

Oil rigs plummeted 94 units to 1,223. Gas rigs, meanwhile, continued their upward shift, gaining 3 units to 319. Rigs considered unclassified edged up a unit, representing the only active rig.

Horizontal drilling rigs plunged 61 units to 1,168. Directional rigs fell 6 units to 140.

Canada's rig count fell 38 units to a total of 394, 242 fewer than this time a year ago. Oil rigs lost 23 units to 200 and gas rigs fell 15 units to 194.

Major states, basins

Texas plunged 58 units to 695, the state's lowest total since Aug. 6, 2010. It now has 147 fewer units compared with this time last year. The dramatic decline reflects a 27-unit drop in the Permian—leading the major US basins—to 454. Also, notably, the Barnett fell 6 units to 19.

Oklahoma declined 10 units to 183. The Mississippian fell 9 units to 54.

North Dakota and Wyoming each fell 4 units to 143 and 42, respectively. Ohio dropped 3 units to 41. Louisiana, New Mexico, West Virginia each lost 2 units to 108, 87, and 23, respectively. Edging down a unit each, Colorado now has 63, Kansas 22, Utah 14, and Alaska 10.

Arkansas is unchanged from a week ago at 12.

Pennsylvania and California each edged up a unit to 54 and 16, respectively.

ogj.com

Tags: U.S., DRILLING, RIG, BAKER, HUGHES

Chronicle:

U.S.: 90 RIGS DOWN
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

U.S.: 90 RIGS DOWN
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

U.S.: 90 RIGS DOWN
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

U.S.: 90 RIGS DOWN
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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