U.S. Rig Count Sees Small Increase In Thanksgiving Week

The total number of active rigs in the United States increased by 2 this week, according to new data from Baker Hughes released on Wednesday instead of Friday this week due to the Thanksgiving holiday. The total number of platforms increased to 784 this week – 215 platforms more than the number of platforms this … Read more

Permian Basin Drives The U.S. Oil Industry Despite Limits On Growth

Oil well pumping outside Midland Texas. (Photo by: Joe Sohm/Visions of America/Universal Images … [+] Group via Getty Images) Joe Sohm/Visions of America/Universal Images Group via Getty Images A meme that made the rounds on Twitter this week quite succinctly describes the cyclical nature of employment levels in the oil and gas industry. The meme … Read more

U.S. Only Lifted Oil Production By 12,000 Bpd In July

The United States increased crude oil production in July by just 12,000 barrels per day on average, according to the latest monthly data released by the Energy Information Administration. The United States produced 365.8 million barrels of crude oil in July, an average of 11.8 million bpd. The data showed the biggest increase was seen … Read more

Analysts May Have Overhyped America’s Largest Oil Basin

Current forecasts for U.S. crude oil production growth may need to be revised significantly, as the recent decline in active rigs in the upper shale basin, the Permian, suggests that production could disappoint due to supply chain constraints and double-digit cost inflation. The number of rigs in the Permian Basin fell by 2 to 340 … Read more