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Foreign news agency news on August 6 that the number of oil and natural gas rigs for US energy companies increased this week, marking the fifth increase in six weeks.
However, the growth in the number of rigs has slowed in the past few months because, despite strong oil prices, drillers continue Pay attention to capital discipline
.
US oil service company Baker Hughes said in a closely watched report on Friday that as of the week of August 6, the number of active oil and gas rigs in the United States increased by 3 to 491, the leading indicator of future production.
.
Compared with the same period last year, the total number of drilling rigs increased by 244 units this week, an increase of 99%
.
According to Baker Hughes data, this number has more than doubled from the record low of 244 in the week of August 14, 2020
.
This week, the number of US oil rigs increased by 2 to 387; the number of natural gas rigs remained stable at 103
.
A hybrid drilling rig has been added
.
US crude oil futures traded at around US$68 per barrel on Friday, and fell more than 7% this week due to concerns that the increase in new crown pneumonia cases will hurt oil demand
.
Although oil prices have risen by more than 40% since the beginning of the year, most energy companies still focus on returning capital to investors
.
However, after cutting drilling and completion spending in the past two years, some companies are increasing their spending in 2021
.
U.
S.
financial services company Cowen & Co said that the independent exploration and production (E&P) company it tracks plans to increase expenditures by 1% in 2021, after reducing capital expenditures by approximately 48% and 12% in 2020 and 2019, respectively
.
However, many analysts expect that additional spending will only replace the natural decline in oil well production
.
However, the growth in the number of rigs has slowed in the past few months because, despite strong oil prices, drillers continue Pay attention to capital discipline
.
US oil service company Baker Hughes said in a closely watched report on Friday that as of the week of August 6, the number of active oil and gas rigs in the United States increased by 3 to 491, the leading indicator of future production.
.
Compared with the same period last year, the total number of drilling rigs increased by 244 units this week, an increase of 99%
.
According to Baker Hughes data, this number has more than doubled from the record low of 244 in the week of August 14, 2020
.
This week, the number of US oil rigs increased by 2 to 387; the number of natural gas rigs remained stable at 103
.
A hybrid drilling rig has been added
.
US crude oil futures traded at around US$68 per barrel on Friday, and fell more than 7% this week due to concerns that the increase in new crown pneumonia cases will hurt oil demand
.
Although oil prices have risen by more than 40% since the beginning of the year, most energy companies still focus on returning capital to investors
.
However, after cutting drilling and completion spending in the past two years, some companies are increasing their spending in 2021
.
U.
S.
financial services company Cowen & Co said that the independent exploration and production (E&P) company it tracks plans to increase expenditures by 1% in 2021, after reducing capital expenditures by approximately 48% and 12% in 2020 and 2019, respectively
.
However, many analysts expect that additional spending will only replace the natural decline in oil well production
.
