U.S. RIGS DOWN 11 TO 1,027
BHGE - U.S. Rig Count is down 11 rigs from last week to 1,027 rigs, with oil rigs down 9 to 834 and gas rigs down 2 to 193.
U.S. Rig Count is up 43 rigs from last year's count of 984, with oil rigs up 38 and gas rigs up 5.
The U.S. Offshore Rig Count is unchanged at 22 rigs and up 9 rigs year-over-year.
Canada Rig Count is down 22 rigs from last week to 189, with oil rigs down 22 to 118 and gas rigs unchanged at 71.
Canada Rig Count is down 84 rigs from last year's count of 273, with oil rigs down 78 and gas rigs down 6.
|Rotary Rig Count|
|United States Total||1027||-11||1038||43||984|
|Gulf Of Mexico||22||0||22||9||13|
|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|
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BHGE - U.S. Rig Count is up 57 rigs from last year's count of 981, with oil rigs up 43 and gas rigs up 14. Canada Rig Count is down 91 rigs from last year's count of 302, with oil rigs down 71 and gas rigs down 20.
REUTERS - Weak returns at U.S. shale producers could cost more executives their jobs and lead to increasing battles with activist investors, analysts said following changes at two producers.
BHGE - U.S. Rig Count is down 4 rigs from last week to 1,047 rigs, with oil rigs down 4 to 853 and gas rigs unchanged at 194. Canada Rig Count is down 12 rigs from last week to 212, with oil rigs down 8 to 144 and gas rigs down 4 to 68.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 84,000 b/d month-over-month in March from 8,314 to 8,398 thousand barrels/day , gas production to increase 858 million cubic feet/day from 77,109 to 77,967 million cubic feet/day .
API - Strongest gasoline demand (8.9 million barrels per day, mb/d) for the month January on record since 1945. Record refinery and petrochemical demand for other oils’ in any month (5.7 mb/d) U.S. production of crude oil (11.9 mb/d) and natural gas liquids (NGLs) (4.9 mb/d) Refinery throughput (17.3 mb/d) and capacity utilization (93.1 percent) for the month of January.
U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.
REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.