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2015-01-31 16:05:00

U.S. OIL DRILLING INCREASED 75%

U.S. OIL DRILLING INCREASED 75%

Estimated U.S. exploratory oil well completions increased by 75 percent in the fourth quarter of 2014 compared to year-ago levels, according to API's 2014 Quarterly Well Completion Report, Fourth Quarter.

"America's oil and natural gas industry increased exploratory drilling in the fourth quarter thanks in large part to access on private and state lands," said Hazem Arafa, director of API's statistics department. "Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government."

Compared to the exploratory numbers, there was more modest growth of total development well completions in Q4 compared to 2013 Q4, rising 4 percent, according to the report. Total estimated well completions for 2014 were 44,849, which is no significant change from 2013 levels. There was a 5 percent increase in total feet drilled compared to 2013.

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API's more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 25 million Americans.

api.org

Tags: API, EXPLORATORY, OIL, GAS, DRILLING, WELL

Chronicle:

U.S. OIL DRILLING INCREASED 75%
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. OIL DRILLING INCREASED 75%
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. OIL DRILLING INCREASED 75%
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. OIL DRILLING INCREASED 75%
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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