Sentences with phrase «rig counts reached»
«Production of both crude oil and natural gas liquids last month remained at the highest levels in decades even as rig counts reached a five - year low,» John Felmy, chief economist at the API in Washington, said in an e-mailed statement.
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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 2016.
Not exact matches
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.
«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.