Updated Aug 22, 2024
8/22/24
Halliburton Co. CEO Jeff Miller during the second quarter conference call expressed cautious optimism for a rebound during 2025 in North American exploration and production (E&P).
The U.S. natural gas rig count fell one unit to 97 for the week ended Friday (June 28), while a six-rig decrease in the oil patch sent the combined domestic tally to 581, according to updated numbers published by Baker Hughes Co. (BKR).
The U.S. natural gas rig count was unchanged at 98 units for the week ending Friday (June 14), updated figures from Baker Hughes Co. (BKR) show.
The U.S. natural gas rig count held steady at 103 for the week ended Friday (May 17), while a small increase in oil-directed drilling raised the combined domestic tally one unit to 604, according to the latest numbers from Baker Hughes Co. (BKR).
The U.S. natural gas rig count eased one unit lower to 105 for the week ended Friday (April 26), while a decline of five oil-directed rigs dropped the combined domestic tally six units week/week to 613, according to updated numbers from Baker Hughes Co. (BKR).
The timing for the next leg of growth in North America remains uncertain, but there’s “no question” that natural gas output will drive the market into 2025 and beyond because of LNG exports and rising electricity demand, Halliburton Co. CEO Jeff Miller said.
The U.S. natural gas patch dropped four rigs for the week ended Friday (March 22), including a notable reduction in drilling numbers for the gassy Haynesville Shale, according to the latest figures from Baker Hughes Co. (BKR).
Natural gas-directed drilling activity held steady in the United States for the week ended Friday (Feb. 23) at 120 rigs, down one week/week, while an uptick in oil drilling lifted the combined domestic tally five units to 626, updated Baker Hughes Co. (BKR) data show.
Canadian energy market fundamentals are improving enough to support a “sustained period of elevated natural gas drilling,” particularly in the Western Canadian Sedimentary Basin, Precision Drilling Corp.’s chief said.
Natural gas and oil executives are likely to “prudently navigate” through turbulent commodity prices this year before sailing into smoother seas heading into 2025, according to industry analysts.