Tropical Storm Fay has decided she doesn't want to run through the Gulf, sparing offshore oil and gas operations and heading toward Florida instead. Naturally, oil prices that had jumped up earlier in the day have since receded to $112.87. You can understand Fay's concern. Who wants to head toward that nasty green Gulf water when you have Florida right there calling for you? She has the culturally rich communities in Miami and Boca Raton to visit, making her way north through Tampa Bay and then Orlando where she can hang out at Universal Studios and Disney World. When she finally exits Florida on Wednesday afternoon, I'm sure she'll be all the happier for it. Whether or not Floridians will be is another matter. –Stephen Payne, Editor, Oil and Gas Investor This Week; www.OilandGasInvestor.com; firstname.lastname@example.org
April US Shale Production Set to Rise to Highest Since December 2019
2023-03-13 - Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 MMbbl/d. Though that would be a record high, oil output from the region is expected to gain by 26,000 bbl/d from the previous month, it’s also the smallest increase since last December, the data showed.
US Drillers Add the Most Gas Rigs in a Week Since December 2018: Baker Hughes
2023-03-17 - Oil rigs fell one to 589 this week, while gas rigs rose nine to 162.
US Drillers Cut Most Rigs in a Week Since Sept. 2021: Baker Hughes
2023-01-06 - Shale braces for another disappointing year of weaker output gains, rising costs and dwindling reserves in 2023.
U.S. Oil & Gas Rig Count Falls for Third Week in a Row - Baker Hughes
2023-03-03 - The oil and gas rig count, an early indicator of future output, fell for the third week in a row by four to 749 in the week to March 3, the lowest since June.
U.S. Oil & Gas Rig Count Falls for Fourth Week in a Row: Baker Hughes
2023-03-10 - The number of oil and natural gas rigs operating fell for a fourth week in a row for the first time since July 2020.