The Limited Times

Now you can see non-English news...

US oil drilling rig operation increased for the first time in 8 weeks = Baker Hughes

2019-10-14T00:23:23.307Z


[11th Reuters]-General Electric (GE) <GE.N> U.S. oil service company Baker Hughes announced that the number of domestic oil drilling rig operations in the week until October 11 increased by 2 units from the previous week 71


[11th Reuters]-General Electric (GE) <GE.N> U.S. oil service company Baker Hughes announced that the number of domestic oil drilling rig operations in the week until October 11 increased by 2 units from the previous week There were 712 units. Increase for the first time in 8 weeks.

The number of operating units in the same period last year was 869.

However, as independent exploration and production (E & P) companies place more emphasis on profit growth than production increases and reduce capital investment, the number of rigs in operation has continued to decline for the longest 10 months.

Under these circumstances, oil field service giant Halliburton <HAL.N> announced on the 9th that it will reduce 650 people in Colorado, Wyoming, New Mexico, and North Dakota. [nL3N26U4AQ]

According to US financial services company Cohen, E & P companies invested in this year's capital expenditures are expected to fall 5% year-on-year. Oil major investment is expected to increase by about 16%, while independent oil companies are expected to decrease by about 11%.

According to Cohen, the 19-year investment plan for the entire E & P company investigated by the company is about $ 80.5 billion. It was $ 84.6 billion in 18 years.

Source: asahi

All news articles on 2019-10-14

You may like

News/Politics 2024-02-03T06:20:10.323Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.