Shale drillers have added 158 rigs since May, according to Baker Hughes Inc. At the same time, companies such as Chesapeake Energy Corp. and EOG Resources Inc. have been increasing their efficiency by cramming more and more sand into individual wells, aiming to extend their reach miles further
U.S. energy firms cut oil rigs for a sixth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as drillers remained cautious in returning to the well pad despite crude futures climbing to their highest levels this year. Drillers cut 11 oil rigs in the week to April 29, bringing the total rig count down to 332, Baker Hughes said in its closely followed report
Rigs targeting crude rose 19 to 471 this week, the biggest increase in the last 16 months, according to Baker Hughes Inc. data reported Friday. Shale drillers have now added 155 rigs since an expansion started at the end of May.
Precision Drilling Corp., one of Canada’s largest drilling companies, has brought back 1,000 employees and begun increasing the price it charges customers for its specialized rigs in a sign that oilfield activity levels are beginning to recover after a prolonged downturn.
U.S. oil companies added 19 drilling rigs during the week of Nov. 14, the biggest hike since July 2015, as shale producers cautiously redeploy cash amid OPEC's plans to curb production and after Donald J. Trump's presidential election victory.
The rig will have the ability to drill 33,000 feet and the capacity to develop resources within a 125-square-mile area around the rig, which is much larger than current rigs with a drilling length of 22,000 feet. The rig will be used to develop the North Slope's Fiord West field, which is northwest of the Colville River Delta.