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.
A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
Just as I tweet my favorite articles so that I have a filing place for them (Twitter is awesome for so many reasons, don’t get me started…), I use my desktop to store all my favorite graphics. And it is way too cluttered. So in my quest to make it more minimal and zen, here […]
Comstock Resources Inc. announced that its first well on the eastern end of the Eagle Ford Shale was tested at 1,267 barrels of oil equivalent per day. The company said that the Henry A #1H well in Burleson County was tested at a peak 24-hour average production rate of 1,023 barrels of oil and 1.5 million […]
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