U.S. RIGS DOWN 11
Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website.
BHI Rig Count: U.S. -11 to 894 rigs
U.S. Rig Count is down 11 rigs from last week to 894, with oil rigs down 11 to 668, gas rigs down 1 to 221, and miscellaneous rigs up 1 to 5.
U.S. Rig Count is down 961 rigs from last year at 1855, with oil rigs down 860, gas rigs down 102, and miscellaneous rigs up 1.
The U.S. Offshore rig count is 34, unchanged from last week, and down 25 rigs year over year.
BHI Rig Count: Canada -4 at 75 rigs
Canadian Rig Count is down 4 rigs from last week at 75 rigs, with oil rigs down 1 to 16, and gas rigs down 3 to 59.
Canadian Rig Count is down 70 rigs from last year at 145, with oil rigs down 38, and gas rigs down 32.
|United States Total||894||-11||905||-961||1855|
|Gulf Of Mexico||33||0||33||-25||58|
|U.S. Breakout Information||This Week||+/-||Last Week||+/-||Year Ago|
|Canada Breakout Information||This Week||+/-||Last Week||+/-||Year Ago|
|Major State Variances||This Week||+/-||Last Week||+/-||Year Ago|
|Major Basin Variances||This Week||+/-||Last Week||+/-||Year Ago|
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.