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rig count

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Oil Boom Shifts The Landscape Of Rural North Dakota

Despite dramatic drop in rigs, Bakken’s sweet spots remain attractive

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The Bakken has seen a dramatic decline in horizontal rigs since prices collapsed last year, but the play’s sweet spots remain attractive, especially as oil prices begin to inch upward, a new analysis finds.
(Ty Wright/Bloomberg)

Oil rigs extend losses into 23rd week

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Oil producers found seven more rigs to set aside, as the industry slowdown continued into May.
(Ty Wright/Bloomberg)

Oil rig count falls to lowest since late 2010

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Producers eased back on the number of rigs laid down this week, idling 11 oil-chasers at a time when crude prices have started to swell again.
(Ty Wright/Bloomberg)

U.S. oil rig count falls again

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U.S. oil companies sidelined 24 oil-drilling rigs this week, according to Baker Hughes’ rig count released Friday, dropping the number of active oil rigs to 679.
Twenty-two horizontal rigs are stacked in West Texas, a portion of the more than 300 rigs that have been sidelined in Texas in recent months. (courtesy of Charles Perry)

U.S. producers idle 31 more oil rigs

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The number of U.S. oil rigs fell once again this week, Baker Hughes said Friday, as producers kept cutting drilling in the face of low crude prices.
(Photo by Andrew Burton/Getty Images)

Oil holds biggest weekly gain since 2009 on China stimulus

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Oil has climbed more than 40 percent since reaching a six-year low in January on estimates that the cutback in U.S. rigs and a boost for fuel demand from lower prices will help drain the global supply surplus.
(Photo by Andrew Burton/Getty Images)

Shale output is falling faster than expected

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Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.
Marathon Bakken drilling

U.S. oil rig count down 42 as industry’s slowdown accelerates

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The number of rigs drilling for oil in the U.S. fell by 42 this week, a reversal from previous figures that suggested the industry’s pull back was slowing down.
The lobby of the Baker Hughes office in Houston. (Julio Cortez / Houston Chronicle)

Baker Hughes closes Bryan office, lays off 54 employees

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Baker Hughes is closing its Bryan office and laying off 54 employees, marking the latest reduction for the Houston-based oil field services company.