. Military Space News .
OIL AND GAS
North Dakota rig count lower for second week
by Daniel J. Graeber
Bismarck, N.D. (UPI) Aug 15, 2016


disclaimer: image is for illustration purposes only

As of Monday, the number of rigs actively exploring for or producing oil and natural gas in North Dakota was lower for a second straight week, state data show.

State data show 33 rigs actively exploring for or producing oil and gas as of Monday, one less than reported last week. Rig counts are a loose metric gauging optimism in the energy sector and state trends contrast with a market characterized last week by major gains in crude oil prices.

For the seventh week in a row, oilfield services company Baker Hughes reported an increase in the North American rig count on signs the market rebound was gaining stability. Oil prices slumped below $30 per barrel this year, but are now moving closer to $50 on speculation that members of the Organization of Petroleum Exporting Countries may take action next month to stimulate prices.

North Dakota crude oil production in June, meanwhile, declined 2 percent from the previous month to around 1.03 million barrels per day and more than 15 percent lower than the all-time high reached in December 2014.

State data show an average rig count for June at 28, one higher than the May average. Statewide, however, the rig count is down 84 percent from the all-time high of 218, set in May 2012.

Lynn Helms, the director of the state's oil and gas commission, said last week energy companies working in North Dakota are committed to running the minimum number of rigs as long as the price of oil stays below $60 per barrel.

North Dakota is the No. 2 oil producer in the United States behind Texas. State data show an expected decline in revenue from oil and gas taxes, with the two years ending 2015 the likely peak for oil and gas taxes and the state general fund.


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Texas shale basin left behind
Oklahoma City (UPI) Aug 11, 2016
Leaving part of a Texas oil and natural gas shale basin will free up potentially more than a billion dollars in financial commitments, Chesapeake Energy said. Chesapeake, which has headquarters in Oklahoma, said it was exiting the Barnett shale basin in Texas, which could result in an increase in operating income by up to $300 million per year through 2019. It could also free up as much ... read more


OIL AND GAS
The USAF's Next SBIRS Missile Warning Satellite Ships to Cape Canaveral for October Launch

Lockheed Martin gets $58 million Patriot missile contract modification

China Mulls Ramping Up Its Missile Defense With Russia

S. Korea's Park gets personal in US missile system row

OIL AND GAS
Raytheon gets $129 million TOW weapon system contract modification

MDA orders ballistic missile targets

S. Korea to deploy Taurus missiles this year

Lockheed Martin's mini missile completes second flight test

OIL AND GAS
US releases redacted drone strike 'playbook'

General Atomics gets $8.8 million Predator upgrade and training contract

160 Commercial Drone Companies to Showcase Latest UAV Technology at InterDrone

Mexican navy debuts new Arcturus T-20 drone

OIL AND GAS
GenDyn to improve U.S. Navy digital modular radio

L-3 Communications gets $216 million U.S. Army aircraft contract modification

Raytheon developing next-gen airborne communications

Rethinking the Space Environment in a Globalized World

OIL AND GAS
Phoenix Nuclear Lab gets U.S. Army bomb detection contract

Israel unveils Eitan armored personnel carrier

BAE receives $245 million contract for Type 26 gun system

AM General gets $356 million to provide Humvees for Afghanistan

OIL AND GAS
Russia has $4.6B in military exports in 2016

Guns, not roses: Conflicts fire up Bulgaria arms trade

CAE gets $111 million in UAE defense contracts

Senators look to block U.S. sale of bombs to Saudis for bombing of Yemen

OIL AND GAS
One month after coup bid, Turkey transformed

Turkey attaches in Greece 'fled to Italy' after coup

Turkish admiral seeks asylum in US after coup bid: report

NATO says Turkey membership 'not in question' after coup

OIL AND GAS
Quantum dots with impermeable shell: A powerful tool for nanoengineering

Tailored probes for atomic force microscopes

Smarter self-assembly opens new pathways for nanotechnology

New silicon structures could make better biointerfaces









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.