. Military Space News .
OIL AND GAS
Rig counts up, but still lower than last year
by Daniel J. Graeber
Houston (UPI) Sep 8, 2016


disclaimer: image is for illustration purposes only

Exploration and production activity in North America is on the rise, but still far below the levels seen last year, data from Baker Hughes show.

Baker Hughes said, internationally, the number of rigs actively engaged in exploring for or producing oil and natural gas was down one in August from the number counted in July and 200, or 17.5 percent, lower than during the same month last year.

For North America, the oilfield services company reported an increase of 32 rigs in the United States and a gain of 35 for Canada.

Rig numbers provide a loose metric to gauge industry confidence, with gains indicating a snapshot of sorts about optimism.

Crude oil prices so far this year are up more than 60 percent from their low point below $30 per barrel this year and rig counts have generally moved in the same direction. A report this week from the Federal Reserve Bank of Dallas said the sentiment on the ground in Texas was that the worst was over, but recovery was still a ways off.

The U.S. rig count for August of 481 is lower than last year by 45 percent. The rig count in Canada, which this week offered a mixed picture of its economy, is off almost 40 percent year-on-year.

For crude oil prices, the global benchmark Brent ended August 2015 at $47.97 and, despite major recovery from yearly lows, ended this August only 3.5 percent higher.


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
Ecuador begins pumping oil in Amazon nature reserve
Tiputini, Ecuador (AFP) Sept 7, 2016
Ecuador began pumping oil Wednesday from a massive field located partly on a protected nature reserve in the Amazon rainforest, drawing criticism from environmentalists and indigenous-rights groups. After years of fraught debate over whether to drill inside the Yasuni national park, state oil company Petroamazonas started pumping crude from the so-called ITT block, which holds more than 40 p ... read more


OIL AND GAS
Lockheed Martin gets $204 million Aegis contract modification

Lockheed Martin receives $19 million THAAD contract modification

Russia touts hypersonics as ABM Killer

Lockheed Martin gets $112 million Aegis modernization contract

OIL AND GAS
Lockheed delivers 2,000th JASSM to U.S. Air Force

Security Council to meet after latest NKorea missile test

Raytheon gets $24 million for Tomahawk radio and antenna

Qatar orders coastal defense system from MBDA

OIL AND GAS
U.S. Air Force QF-4 flies final unmanned mission

Embry-Riddle Daytona Beach UAS Program Leads Nation as One of First to Begin Flight Operations

U.S., Canada ink deal for RQ-21A drone sale

Tech issues cause most drone accidents

OIL AND GAS
SES Government solutions to provide the US with a high performance network

The sky's no limit for young space professionals

Datron gets $495 million Afghan radio contract

Open Architecture opens opportunities for acquisition reform

OIL AND GAS
BAE receives $14 million Bradley vehicle contract modification

Saab supplying simulators for Polish military academy

US Army gives combat medics new type of tourniquet

Lockheed Martin gets $147 million for U.S. Army trainer systems

OIL AND GAS
Raytheon sued by former employee over Afghanistan fraud allegations

S. Korea hosts arms show after N. Korea missile tests

U.S. lawmakers call for freeze on Saudi arms sale

French environment minister announces partnerships in Iran

OIL AND GAS
Russia launches major military drills set to rattle Kiev

Tricky last G20 summit for Obama

China, Japan seek to improve ties as Xi, Abe meet

Airport tiff highlights US-China value gap: Obama

OIL AND GAS
'Helix-to-Tube,' a simple strategy to synthesize covalent organic nanotubes

Diamonds and quantum information processing on the nano scale

Lehigh engineer discovers a high-speed nano-avalanche

Silicon nanoparticles trained to juggle light









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.