The Global Rig Count Hits A Record Low
1. Global rig count hits record low – The U.S. rig count has hit its lowest level in decades, but the global rig count is also at a record low. Continue Reading
Non-OPEC Oil Production Collapses in April
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to April 2020. Continue Reading
Permian Oil Drillers Bounce Back with Biggest Rig Hike This Year
Explorers in the world’s biggest shale patch are roaring back, putting an additional 10 rigs to work this week for the biggest jump in activity since a price crash triggered Continue Reading
U.S. Oil Rig Count Rises For First Time Since January
Baker Hughes reported on Friday that the number of oil rigs in the United States rose for the first time since January by 11, to 183—the first double-digit increase since Continue Reading
Malaysian Oil Major May Buy Permian Driller
Malaysia’s Petronas, the national state oil and gas company, is in talks to take over Permian driller DoublePoint Energy, Bloomberg reported, citing sources in the know who declined to be Continue Reading
Chevron shutting in output, removing crews from US Gulf platforms ahead of storms
Chevron has begun shutting in production and evacuating crews from four sizeable US Gulf of Mexico platforms in advance of Tropical Storm Laura and Tropical Depression 14, as the two Continue Reading
World’s Largest Offshore Rig Owner Files Bankruptcy
UK-based offshore drilling contractor Valaris has filed for bankruptcy protection in the United States, offering creditors to swap some $6.5 billion of its $7.8-billion debt pile for equity. The company Continue Reading
Cimarex makes contingency oil, gas permit plans in event of Biden presidency
Cimarex Energy is making contingency plans for permitting on federal lands in case there is a change in presidential administration, its top executive said Aug. 19. Receive daily email alerts, Continue Reading
Analysis: Floating storage at two-month lows despite inflated volumes off China
The amount of crude and condensate hoarded on tankers has tumbled to more than two-month lows as the incentives for storage start to recede, although volumes offshore China remain high, Continue Reading
Fujairah Data: Fuel stockpiles edge lower led by drop in middle distillates
Fujairah stockpiles of oil products dropped to a four-month low on Aug. 17, with middle distillates such as jet fuel and gasoil leading the way. Receive daily email alerts, subscriber Continue Reading