Oil rig count drops, pain to get worse

Oil rig count drops, pain to get worse

The U.S. oil and natural gas industry idled 40 more drilling rigs this week. That brings the U.S. total to 59 rigs idled in the last two weeks, almost 9% of the rig total. Worse yet, more than half of the idled rigs were in the Permian basin of West Texas. That...
Oil rig count drops, pain to get worse

Drilling productivity report highlights Permian as source of U.S. production growth

It’s not the most high-profile or best followed report from the U.S. Energy Information Administration, but if you’re looking to see where in the energy sector to put your dollars, the monthly Drilling Productivity Report is a good place to start. That’s because the report projects the trends in production per well in U.S. oil shale geologies and the growth in the number of working wells.