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US Drillers Cut Oil, Gas Rigs to Historic Low

2020-05-08 19:33:56| OGI

The rig count, an early indicator of future output, fell by 34 to a record low of 374 in the week to May 8, according to data from energy services firm Baker Hughes Co. going back to 1940.

Tags: low cut gas oil

 

US Drillers Cut Oil Rigs for Seventh Consecutive Week

2020-05-01 19:25:45| OGI

Drillers cut 53 oil rigs in the week to May 1, bringing down the total count to 325, the lowest since June 2016, energy services firm Baker Hughes Co. said in its weekly report.

Tags: week cut oil consecutive

 
 

Rig Cancelations, Market Conditions Bring Pain for Offshore Drillers

2020-04-30 17:43:48| OGI

Demand for rigs of all types is dwindling in several offshore oil and gas regions with contracts being canceled or suspended.

Tags: conditions market bring pain

 

Drowning in Crude, US Drillers Say Trump Strategic Reserve Plan is No Lifeline

2020-04-23 16:10:21| OGI

Logistical issues and doubts about maintaining the quality of the oil make producer skeptical of the plan.

Tags: no plan reserve strategic

 

Analysts: Offshore Drillers Face Possible Restructuring Due to Coronavirus-Oil Crisis

2020-04-14 18:00:00| OGI

Offshore drillers could lose a total of about $3 billion in revenue during the next two years due to canceled contracts, Rystad Energy says.

Tags: due face crisis offshore

 

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