Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
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.
Baker Hughes said oil rigs fell three to 496 this week, their lowest since November, while gas rigs rose one to 103.
The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.
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.