The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
Advances in horizontal drilling and fracking technologies are yielding more efficient oil wells in the U.S. even as the rig count plummets, the Energy Information Administration reported.
Despite moves by EQT, Chesapeake and other gassy E&Ps, natural gas prices will likely remain in a funk for at least the next quarter, analysts said.
The oil and gas rig count, an early indicator of future output, rose by two to 619 in the week to April 19.
The oil and gas rig count, an early indicator of future output, fell by three to 617 in the week to April 12, the lowest since November.
The oil and gas rig count, an early indicator of future output, fell by one to 620 in the week to April 5, the lowest since early February.
The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.
The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15.
TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
The oil and gas rig count, an early indicator of future output, fell by seven to 622 in the week to March 8, the lowest since Feb. 16.
Advances in horizontal drilling and fracking technologies are yielding more efficient oil wells in the U.S. even as the rig count plummets, the Energy Information Administration reported.
Despite moves by EQT, Chesapeake and other gassy E&Ps, natural gas prices will likely remain in a funk for at least the next quarter, analysts said.