N.America
![N.America](/cache/2016/08/USA-314.0cbc1c1e.jpg)
2016, August, 8, 19:05:00
U.S. RIG COUNT UP 1
U.S. Rig Count is up 1 rig from last week to 464, with oil rigs up 7 to 381, gas rigs down 5 to 81, and miscellaneous rigs down 1 to 2.
Canadian Rig Count is up 3 rigs from last week to 122, with oil rigs unchanged at 60, gas rigs up 2 to 60, and miscellaneous rigs up 1 to 2.
![N.America](/cache/2016/08/USA-318.b62170c4.jpg)
2016, August, 8, 19:00:00
U.S. JOBS DOWN 142,000
Employment in oil and natural gas production reached a high of 538,000 jobs in October 2014. Since then, oil and natural gas production employment declined 26%, a loss of more than 142,000 jobs through May 2016, based on the latest jobs data available. The total decrease in production jobs is nearly three times the 51,000 jobs lost over a 13-month period during the 2008–09 recession.
![N.America](/cache/2016/08/USA-323.1faef4ae.jpg)
2016, August, 8, 18:55:00
U.S. DEFICIT UP TO $44.5 BLN
The deficit rose to $44.5 billion in June, 8.7 percent higher than a revised May deficit of $41 billion, the Commerce Department reported Friday. It was the biggest gap between what America sells abroad and what the country imports since a $44.6 billion deficit last August.
![N.America](/cache/2016/08/Statoil-21.a58797fa.jpg)
2016, August, 2, 18:30:00
STATOIL SALES U.S.
In the latest transaction, Statoil will divest some of its non-operated interests in the US state of West Virginia to Antero Resources Corporation (“Antero”) for approximately USD 96 million in cash.
![N.America](/cache/2016/08/LNG-60.0b179af5.jpg)
2016, August, 1, 18:45:00
INVERTED LNG MARKET
Low oil prices are expected to have a negative effect on the US LNG export industry. LNG export markets are tied to oil indexing. With crude oil prices decreasing by 50% over the past year and a half, the US Henry Hub market is losing its price advantage. This scenario not only minimizes projected LNG export revenues, but it also makes financing capital-intensive LNG facilities more difficult.
![N.America](/cache/nophoto.215705b5.jpg)
2016, August, 1, 18:30:00
U.S. RIGS UP 1
U.S. Rig Count is up 1 rig from last week to 463, with oil rigs up 3 to 374, gas rigs down 2 to 86, and miscellaneous rigs unchanged at 3.
Canadian Rig Count is up 17 rigs from last week to 119, with oil rigs up 12 to 60, gas rigs up 5 to 58, and miscellaneous rigs unchanged at 1.
![N.America](/cache/2016/07/canada-38.aad48c70.jpg)
2016, July, 23, 13:59:00
U.S. RIGS UP 15
U.S. Rig Count is up 15 rigs from last week to 462, with oil rigs up 14 to 371, gas rigs down 1 to 88, and miscellaneous rigs up 2 to 3.
Canadian Rig Count is up 7 rigs from last week to 102, with oil rigs up 4 to 48, gas rigs up 3 to 53, and miscellaneous rigs unchanged at 1.
![N.America](/cache/2016/07/USA-313.fe599715.jpg)
2016, July, 21, 15:07:00
U.S. DRILLING UP
Higher and more stable crude oil prices are contributing to increased drilling in the United States, which may slow the pace of production declines. Benchmark West Texas Intermediate (WTI) crude oil prices averaged $46.59 per barrel (b) over the last three weeks, a 40% increase over the average price in the first quarter.
![N.America](/cache/2016/07/USA-307.9b590432.jpg)
2016, July, 19, 14:12:00
U.S. OIL COMPANIES UPDOWN
First-quarter 2016 financial results from U.S. onshore producers reveal an improving balance between capital expenditure and operating cash flow. Although operating cash flow was the lowest in any quarter in the past five years, larger reductions to capital expenditure brought these companies closest to self-finance (when capital investment can be paid for entirely from operating cash flow). With crude oil prices such as the global benchmark Brent price averaging over $45 per barrel in the second quarter—a 34% increase from first-quarter 2016—cash flow may improve and help offset declining revenue from lower production.
![N.America](/cache/2016/07/USA-303.f61c9481.jpg)
2016, July, 19, 12:26:00
U.S. OIL PRODUCTION DOWN
U.S. oil production down 99 tbd, gas production down 417 mcfd.
![N.America](/cache/2016/07/USA-294.089eb5e6.jpg)
2016, July, 8, 18:00:00
U.S. OIL WELL COMPLETIONS DOWN 69%
Estimated U.S. oil well completions decreased by 69 percent in the second quarter of 2016 compared to year-ago levels, according to API's 2016 Quarterly Well Completion Report, Second Quarter.
![N.America](/cache/2016/07/canada-27.88b2fa47.jpg)
2016, July, 6, 18:20:00
CANADIAN DOLLAR DOWN
The Canadian dollar is expected to weaken further over the coming months as Britain's vote to leave the European Union boosts the U.S. dollar and with oil prices set to remain weak.
![N.America](/cache/2016/07/USA-293.213a2cc8.png)
2016, July, 5, 18:10:00
U.S. NEED MONEY
The number of rigs running in the US to drill the horizontal wells used for shale oil production has been rising since May. At 272 last week it was at its highest level since early April, according to Baker Hughes, the oilfield services company.
![N.America](/cache/2016/07/USA-290.19c2eff3.jpg)
2016, July, 5, 18:05:00
THE BIGGEST U.S. OIL
The United States holds more recoverable oil reserves than Saudi Arabia and Russia thanks in large part to its shale oil, Norwegian consultancy Rystad Energy said in a report.
![N.America](/cache/2016/07/USA-289.1a9f9edd.jpg)
2016, July, 4, 18:55:00
U.S. ECONOMY: EVEN WORSE
To make matters worse, evidence suggests that, after controlling for income levels, the responsiveness of consumption to income gains for most of the income distribution has weakened in recent years. This puts further downward pressure on consumption. Combined, these effects are estimated to translate to about 3½ percentage points of lost U.S. consumption over 1998–2013—equivalent to more than one year of total consumption growth.