U.S. OIL & GAS WELL COMPLETION DOWN 51%
Estimated total U.S. oil and natural gas well completions fell by 51 percent in the fourth quarter of 2015 compared to year-ago levels, according to API's 2015 Quarterly Well Completion Report, Fourth Quarter.
"Our growth as a global energy superpower has been a game-changer for U.S. energy security while making energy cheaper for American consumers," said Hazem Arafa, director of API's statistics department. "We can't expect that growth to continue if our own outdated energy polices stand in the way. Reducing unnecessary regulations and speeding up permitting on federal lands will help U.S. producers to compete effectively in the global market under the low-price environment."
Estimated development oil well completions in 2015 fourth quarter fell 55 percent compared to 2014 fourth quarter estimates. Estimated development gas completions decreased 37 percent over the same period.
For 2015, total well completions decreased 35 percent overall compared to 2014 levels. Oil completions were down 37 percent and natural gas completions were down 28 percent). Total footage drilled was down 27 percent overall.
|December, 18, 12:50:00|
|December, 18, 12:45:00|
|December, 18, 12:40:00|
|December, 18, 12:35:00|
|December, 18, 12:30:00|
|December, 18, 12:25:00|
PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.