Sentences with phrase «rig count in»

The reduction in rig count in the US will support upward pressure on price, but for now, OPEC is standing firm on its decision to maintain production levels.

Hughes initiated the monthly international rig count in 1975.

The markets reacted apathetically to Baker Hughes US Crude Oil Drilling Rig Count., UP 5 to 820 Rigs, Most Since March 2015 suggesting that the primary focus is falling on Iran sanctions while declining production is overshadowing the Rig count in Venezuela and Angola.

Further, the state sees its production decline accelerating though May and into the summer, given the drilling plans of Bakken producers like SM Energy, which planned to reduce its rig count in the play starting in May.

That could weigh on the rig count in the near term.

Implications: There has been a drastic change in U.S. oil production — rig counts in the U.S. are at their lowest level in 50 years.

Not exact matches

U.S. drillers added five oil rigs in the week to April 27, bringing the total count to 825, the highest since March 2015, General Electric's Baker Hughes energy services firm said.

The count of active oil rigs fell with prices, but has risen over the past few months, mostly in the Permian.

U.S. drillers added five oil rigs looking for new production in the week to April 27, according to energy services firm Baker Hughes, bringing the total count to a March 2015 high of 825.

SINGAPORE, April 23 (Reuters)- Oil prices dipped early on Monday as a rising U.S. rig count pointed to further increases in the country's output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.

U.S. drillers added five oil rigs drilling for new production in the week ending April 20, bringing the total count to 820, the highest since March, 2015, according to General Electric's Baker Hughes energy services firm.

The rising rig count points to further increases in U.S. crude production , which has already climbed by a quarter since mid-2016 to a record 10.54 million barrels per day (bpd).

«You're starting to see rig counts go down in the U.S.; you're seeing capital expenditure budgets slashed in the oilsands and the shale oil fields in the U.S..

Last week, the oil rig count fell for the first time in four months, by two to 441.

In a note on Friday, Morgan Stanley analysts wrote that the recent gain in the US oil - rig count is one reason why they are losing conviction in their call for a re-balancing of the market by mid-201In a note on Friday, Morgan Stanley analysts wrote that the recent gain in the US oil - rig count is one reason why they are losing conviction in their call for a re-balancing of the market by mid-201in the US oil - rig count is one reason why they are losing conviction in their call for a re-balancing of the market by mid-201in their call for a re-balancing of the market by mid-2017.

«Production proved even more resilient than the rig count: it took 35 weeks after the rig count started to decline before production began its own decline,» said Societe Generale commodity strategists in a recent note.

The US oil rig count fell by the most in two months this week, by 21 to 524, according to oilfield services giant Baker Hughes.

With one miscellaneous rig remaining in use, the total rig count was up 12 to 741.

The count of active oil rigs in the US for the fourth straight week last week and is more than 80 % higher than the low reached in May 2016.

SINGAPORE, April 23 (Reuters)- Oil prices dipped on Monday as a rising U.S. rig count pointed to further increases in the country's output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.

Market jitters started immediately last week when Baker Hughes» count of drilling rigs, a leading indicator of U.S. output, ticked up for the first time in nearly two months.

Coupled with ongoing declines in the North American rig count — U.S. crude production is now at a two - year low — this helped nudge prices up to levels not seen since July 2015.

In any case, lower inventories in the short - term should temporarily help supply and demand rebalance, along with the drop in the North American rig counIn any case, lower inventories in the short - term should temporarily help supply and demand rebalance, along with the drop in the North American rig counin the short - term should temporarily help supply and demand rebalance, along with the drop in the North American rig counin the North American rig count.

However, this had more to do with supply than demand and was mostly a U.S. phenomenon, driven by the recent stabilization in the U.S. rig count as well the fact that production has remained resilient, despite the pullback in drilling activity.

Canada's rig count additions appears to be leveling off, and despite its large swings in the number of active rigs on a weekly basis, has roughly the same number of oil rigs in operation that it had back at the end of July.

Total active rig counts bottomed at 404 during the height of the oil - price collapse in 2016.

What's more, the number of active North American oil rigs fell by two in the week ended June 30, from 758 to 756 rigs, the first such contraction since January, according to the Baker Hughes Rig Count.

Natural Gas Natural gas futures were among the quarter's key decliners -LRB--7.5 %, to US$ 2.73 per million British thermal units) as production growth outweighed seasonal consumption and higher exports of the fuel.1 Spot prices saw an even larger drop of 20.6 % (to US$ 2.81) as the support of December's weather - related demand spikes faded and a more normal winter pattern developed.1 Natural gas generally took its downward price cues from elevated US production and growth in the natural gas - focused rig count, which increased from 179 to 194 in March alone.2 Despite the price drop, traders remained optimistic given surging US shale - gas exports and a supply deficit that was 20 % larger than the five - year average at March - end, the biggest in four years.3 Moreover, total natural gas inventories of 1.38 trillion cubic feet were nearly 33 % below their year - ago level.3 Meanwhile, the market appeared focused on an anticipated production surge (2018 is projected to be a record growth year for gas supplies) and may have overlooked intensifying demand as US exports increasingly helped drain supplies.

The US oil - rig count plateaued near the highest level in three years and showed signs of declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.

Crude oil prices are taking a step back on Monday as an increase in rig counts and a drop - in supply in Cushing, Okla., and a perceived drop in Geo - political risk premium are causing traders to take a step back.

Significant decreases were seen in Pecos, Winkler, Midland, Webb, Atascosa and Starr Counties, which each saw rig counts decrease by three or four.

«Eagle Ford production has been on an upward trend since it bottomed out in late 2016, although rig counts have been declining since reaching 86 on May 26,» Dallas Fed said, noting that the Eagle Ford output dropped in late August and early September due to curtailments amid Hurricane Harvey.

The opportunity arose, I argued, because it seemed to me that the oil environment was finally, in fact, ready to improve — oil stockpiles were finally dropping below 5 - year averages and declining steadily, and rig counts were due to decline as well, after so many months of sub-profitable oil prices.

NOW's Canadian segment was also significantly affected by the decline in that country's rig count.

That said, if there was a silver lining, it was that the year - over-year sales decline after stripping out the positive impact from acquisitions was 45 %, which actually outperformed the 60 % decline in the U.S. rig count over the past year.

That segment was affected by early project shutdowns, a 57 % decline in the rig count, and a 14 % foreign exchange impact due to the stronger dollar.

While the rebound in the U.S. rig count that drove outperformance in the previous year continued, many of these newly drilled wells were capped rather than moved into the production phase.

In the latest report by Baker Hughes dated April 28, 2017, the oil rig count reached 697, a huge increase from the lows of 316 in May 201In the latest report by Baker Hughes dated April 28, 2017, the oil rig count reached 697, a huge increase from the lows of 316 in May 201in May 2016.

The U.S. oil - rig count fell by 13 to 400 in the latest week, according to Baker Hughes Inc., maintaining a recent clip of sharp declines.

A greater than 50 percent reduction in the U.S. rig count has only just started to slow U.S. domestic oil production.

It rigs the voting process in each case, counting all abstentions as votes against the union.

That action for foreign currency rigging came less than two years after the bank was charged with two felony counts and given a deferred prosecution agreement for aiding and abetting Bernie Madoff in the largest Ponzi fraud in history.

The very next year, in May 2015, JPMorgan Chase was hit with a new felony count for its role in rigging foreign currency markets as part of a banking cartel.

Despite a precipitous decline in the U.S. rig count, greater efficiency has allowed U.S. domestic production to rise by roughly 500k barrels since the end of 2014, according to Bloomberg data.

After going through the ritualistic Monday morning downside test on the back of rising oil drilling rig counts, WTI rallied around $ 2 towards $ 69.35 in NY, as traders remain singularly focused on the Iran nuclear deal.

The US oil rig count increased by five units in the week to April 20, bringing oil rigs to 820, according to Baker Hughes.

Crude oil prices are pulling back after a rise in the rig count even though it's making up for lost time after the big freeze down south.

The U.S. oil - rig count dropped by 16 to 578 in the latest week, the ninth consecutive week of declines, according to Baker Hughes Inc..

Gains in the rig count will only pick up pace of OPEC agrees to cut its output.

... For example, if we see a 30 % to 35 % reduction in average rig count, we estimate that raw frac sand demand could decline by as much as 15 % to 20 % from 2014 levels.