U.S. PETROLEUM DRILLING UP 35%
API - Natural gas and oil drilling and completions rose more than 35 percent over 2017 levels signaling the strength of the U.S. natural gas and oil industry. In addition, the success rate for exploration of natural gas and oil was more than 60 percent, the highest rate since 2009.
"Today's report shows demonstrable progress and a strong future for the U.S. as the world's top producer and refiner of natural gas and oil," said API Chief Economist Dean Foreman. "With strong activity and continued technological gains in natural gas and oil production, we need to ensure that our nation's infrastructure keeps pace so that consumers, workers, and the environment can continue to experience the benefits of increased American energy production. Promoting our nation's energy infrastructure is a $1.3 trillion proposition that could support one million jobs per year through 2035 and help our economy to grow, make environmental progress, and increase our national security with abundant energy production."
In the first quarter of 2018:
- The U.S. natural gas and oil industry experienced a 35 percent increase in drilled footage and a 37 percent increase in well completions, compared with Q1 2017.
- The Exploratory success rate in Q1 2018 was above 60% and at its highest since 2009.
- For Exploration (as opposed to Development) wells, completions rose by 29 percent, while drilled footage increased by 45 percent, which suggests continued technological progress in Exploration.
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BAKER HUGHES A GE - U.S. Rig Count is unchanged at 1,057 rigs, with oil rigs unchanged at 869, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 3 rigs from last week to 212, with oil rigs up 1 to 141 and gas rigs up 2 to 71.
REUTERS - Brent crude oil futures LCOc1 were down 3 cents at $71.40 a barrel by 00229 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 1 cent to $65.45 a barrel.
МИНЭНЕРГО РОССИИ - «Если рассмотреть Конвенцию через призму энергетического сотрудничества прикаспийских государств, можно отметить, что она открывает большие перспективы для расширения и углубления взаимовыгодного сотрудничества в сфере ТЭК», - сказал глава российского энергетического ведомства.
WNA - Nuclear reactors generated a total of 2506 TWh of electricity in 2017, up from 2477 TWh in 2016. This is the fifth successive year that nuclear generation has risen, with output 160 TWh higher than in 2012.