Oil prices are rallying aggressively on the back of Saudi Arabia’s surprise cut and optimism over the rollout of vaccines across the world. News of a new strain of COVID19, however, has hurt the prospect of a demand recovery in Europe. The big question now for analysts is what does 2021 hold for oil markets?
US oil, gas rig count rises one on week to 707: Enverus data
The US oil and gas rig count rose by one on the week to 707, energy analytics and software company Enverus said Jan. 6, as the eight largest domestic plays experienced flattish activity in the first days of 2022.
The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus amid several oil disruptions around the globe, including in Libya, Ecuador, and Kazahkstan.
Baker Hughes reported on Wednesday that the number of oil rigs in the United States rose by 10 to 241, resuming its climb after a one-week decline last week.
At the reading of this column, we may know who our new President will be. There are many people who believe that depending on who the President is, our future as an industry will be changed.
Oil operators get DUCs in a row, adding fracking crews to boost output
DENVER (Reuters) - U.S. frackers have been bringing back equipment to boost production even with oil prices languishing around $40 a barrel, tapping into a backlog of drilled wells left uncompleted (DUCs) when oil prices crashed in the spring.
Drilling And Fracking Accelerates Ahead U.S. Election
Ahead of what could be an industry-changing presidential election in the US, a Rystad Energy analysis reveals that drilling and fracking activity has accelerated.
Fracking: The Unexpected Issue That Could Determine the 2020 Election
In the final weeks of the presidential campaign, the debate over fracking signals the potentially decisive role Pennsylvania voters on both sides of the issue could play on Election Day.
Halliburton's Spirit Is Indomitable, But The Path Ahead Is Uneven
For the past several quarters, Halliburton (NYSE:HAL) has reduced dependence on North America and increasingly diversified into international businesses.