Home / oil price / oil and gas rig count now stands at 118 more than a year ago

oil and gas rig count now stands at 118 more than a year ago

Canada’s total oil and gas rig count now stands at 118, which is 78 more rigs than a year ago.

Canada’s oil rig count was down by two, while gas rigs in Canada fell 12.
This week marks the thirteenth straight week of increases to the oil and gas rig count.
The last time oil rigs were this high in number was in April 2015.
Gas rigs declined this week by 3—after five consecutive weeks of growth—bringing the total oil and gas rig count to 847, or 407 more than a year ago today.

according to

North Dakota Oil Output Hits 1 Million Bpd

Oil Production

Crude oil production in North Dakota exceeded 1 million barrels daily in February for the first time in three months, but the increase is temporary as thaw season will prompt strict weight restrictions on trucks servicing the oil patch.
They will have to wait, however, until the land thaws beneath North Dakota roads, until which time they will have to use more trucks with lower loads as per state regulations.
The head of the state’s DNR Lynn Helms told media the February increase in production was a surprise and was most likely brought about by higher international oil prices.
Marathon Oil had the most rigs: 10, of which nine were added since the start of 2017.
Production should rebound later in the year, most likely in the last quarter, according to the state’s Department of Natural Resources.

according to

Gulf of Mexico Crude Oil Production Hits Record High – gCaptain

Oil Production

In January 2017, GOM crude oil production increased for the fourth consecutive month, reaching 1.7 million b/d.
On an annual basis, oil production in the GOM is expected to continue increasing through 2018, based on forecasts in EIA’s latest Short-Term Energy Outlook (STEO).
Exploratory wells are drilled to find new reservoirs (in either a new area or in a known field).
“Recent crude oil price increases have not had a significant impact on operations in the GOM,” the EIA said press release on Wednesday.
Crude oil production in U.S. federal waters in the Gulf of Mexico (GOM) set an annual high of 1.6 million barrels per day (b/d) in 2016, surpassing the previous high set in 2009 by 44,000 b/d, the U.S. Energy Information Administration said Wednesday.

collected by :Jack Alex

Check Also

Stocks still are up 9.2 million barrels from 493.7 million barrels one year ago picture-13396-310x165

Stocks still are up 9.2 million barrels from 493.7 million barrels one year ago

Cushing — home to the country’s largest commercial storage hub — saw storage levels drop …