Subscribe free to our newsletters via your




OIL AND GAS
North Dakota rig count declines
by Daniel J. Graeber
Bismarck, N.D. (UPI) Sep 14, 2015


disclaimer: image is for illustration purposes only

The number of rigs actively exploring for or producing oil and natural gas in North Dakota is down more than 65 percent from last year, state data show.

The North Dakota Industrial Commission reports 69 rigs actively exploring for or producing oil and natural gas. That's down more than 9 percent from last week and 130 rigs less than this date in 2014.

Crude oil prices of around $44 per barrel for the U.S. benchmark, West Texas Intermediate, are more than 50 percent below last year's levels. That leaves energy companies with less capital to set aside for exploration and production, a trend reflected in lower rig counts.

Data published Friday from oilfield services company Baker Hughes show U.S. drillers pulling back on rig activity for the second straight week. Drillers for the week ending Sept. 11 cut rig activity in the Eagle Ford and Permian shale basins in Texas, the Niobrara shale in Colorado and the Bakken shale in North Dakota.

Texas, the No. 1 oil producer in the nation, lost the most rigs last week with a net decline of nine.

North Dakota is the No. 2 oil producer. Oil production in June, the last full month for which data are available, was 1.21 million barrels per day, just shy of the record 1.22 million bpd set in December.

"Operators are now committed to running fewer rigs than their planned 2015 minimum as drill times and efficiencies continue to improve and oil prices continue to fall," the NDIC said in a monthly report. "This has resulted in a current active drilling rig count that remains five to 10 rigs below what was operators indicated would be their 2015 average if oil price remained below $65 per barrel."


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Honor ceiling, Iran tells OPEC
Tehran (UPI) Sep 10, 2015
The Organization of Petroleum Exporting Countries will have to review production levels to make room for Iran or face consequences, Iran's Oil Ministry said. An opinion piece published by SHANA, the Oil Ministry's official news website, said crude oil markets are skewed toward the supply side by 2 million barrels. Once all sanctions pressures ease, Iran could add another 1 million barre ... read more


OIL AND GAS
France Nears Completion of Chernobyl Steel Confinement Structure

EU chief calls human traffickers 'murderers', urges crackdown

France cash pledge for persecuted Mideast minorities

China outrage after officials say blast relatives 'calm'

OIL AND GAS
Soyuz ready for liftoff with two Galileo satellites

Soyuz set to launch 2 Galileo navigation satellites

Mission team ready for Galileo launch

China Deploys New Security System to Ensure Safety at Military Parade

OIL AND GAS
Did grandmas make people pair up?

New film aims to capture 'Human' experience

Largest-yet monument unearthed at Stonehenge

US Catholics mostly accepting of non-traditional families

OIL AND GAS
Common molecular tool kit shared by organisms across the tree of life

Before nature selects, gene networks steer a course for evolution

New calves raise hopes for world's rarest rhino

Some birds may lose part of range under climate change scenarios

OIL AND GAS
US Army orders lab safety review, freeze in anthrax scandal

New Ebola death in Sierra Leone sets back efforts to beat epidemic

Pneumonic plague kills eight in Madagascar

WHO to study use of sanctions as part of global epidemic response

OIL AND GAS
You give music a bad name: Bon Jovi China gigs cancelled

China says Tibet Lama appointee missing for 20 years 'living normally'

China's government to 'manage' public dancing: Xinhua

After China escape, painful memories remain for blind activist

OIL AND GAS
Army's role questioned in missing Mexican students case

Kenya's 'ivory kingpin' bail suspended

Rio airport agents bribed in Chinese immigrant scandal

All bets are off inside Laos' jungle sin city

OIL AND GAS
China producer prices slump as Li warns of challenges

Bank of Russia keeps key rate unchanged

Change a heavy task in China's industrial heartland

China to step up fiscal incentives to boost growth




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.