U.S. Oil Drillers Back Off Even As Prices Soar
Equatorial Guinea Rewrites Oil Law After Production Collapses 85% Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… The total number of active drilling rigs for oil and gas in the United States remained unchanged this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 55 from this same time last year.
The number of active oil rigs fell by 3, to 459 during the latest reporting period, according to the data.
This is 41 above this same time last year.
The number of gas rigs rose by 1 to 133, which is 12 more than this time last year.
The latest EIA data showed that weekly U.S.
crude oil production fell during week ending October 9.
US crude oil production averaged13.679 million bpdduring the reporting period, down from 13.979 million bpd last week and up just 43,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, rose again during the week ending October 9—the fifth gain in as many weeks, and up 7 crews from the week prior at 203.
The number of active drilling rigs in the Permian Basin fell by 2 during the reporting period, to 272.
The count in the Eagle Ford held fast at 49, which is 5 more than this same time last year.
Oil prices were down on Friday prior to the data release, with Brent now trading at$105.60(-0.30%) per barrel, but up $2 per barrel from this time last week.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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