U.S. OIL WELLS UP 84%
API - API announced that estimated wells completed in the third quarter of 2017 increased 63 percent compared to the third quarter of 2016. This includes a dramatic 84 percent increase for all oil wells completed from year-ago levels.
"Today's report shows evidence that domestic oil and natural gas development remains strong," said Hazem Arafa, director of API's statistics department. "Our nation leads the world in the production and refining of oil and natural gas and due to the increased use of natural gas carbon emissions are near 25-year lows. Moving forward, it's important to put in place policies that embrace America's leadership in energy, which benefits consumers, generates revenue for the government and strengthens our national security."
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PENNENERGY - Siemens Gamesa Renewable Energy has secured orders for the supply of 39 onshore wind turbines in France, with aggregate capacity of 104 MW, at five wind farms being developed in the regions of Hauts de France, Grand Est, Burgundy and in Western France.
FRB - Industrial production rose 1.1 percent in February following a decline of 0.3 percent in January. Manufacturing production increased 1.2 percent in February, its largest gain since October. Mining output jumped 4.3 percent, mostly reflecting strong gains in oil and gas extraction.
PLATTS - NYMEX Apr natural gas little changed at $2.678/MMBtu
BAKER HUGHES A GE - U.S. Rig Count is up 6 rigs from last week to 990, with oil rigs up 4 to 800, gas rigs up 1 to 189, and miscellaneous rigs up 1 to 1. Canada Rig Count is down 54 rigs from last week to 219, with oil rigs down 52 to 144 and gas rigs down 2 to 75.