Medical and Hospital News  
OIL AND GAS
North Dakota rig count unchanged
by Daniel J. Graeber
Bismarck, N.D. (UPI) Apr 25, 2016


disclaimer: image is for illustration purposes only

The number of rigs in service in North Dakota, the No. 2 oil producer in the United States, held steady despite last week's rally in oil prices, data show.

State data show 29 rigs actively exploring or producing oil and natural gas in the state, unchanged from the previous week, but steady at the lowest level in roughly a decade. In a mid-April report on state operations, Lynn Helms, director of the North Dakota Department of Mineral Resources, said that pressure from lower crude oil prices meant companies working in the state were "committed to running the minimum number of rigs."

Rig counts serve as a loose barometer for the health of the energy sector. North Dakota's rig count for Monday is 65 percent lower than this date in 2015 and 86 percent lower than the level in 2012. The all-time low point is zero.

For the fifth week in a row, oil services company Baker Hughes reported a decline in rig activity in North America, with a 2 percent drop to 431. Last year's count for the week ending April 22 was 932.

Lower oil prices means less capital is available for energy companies to invest in exploration and production activity. Crude oil prices, however, are up 22 percent from the start of April as market investors take stock of expected declines in total U.S. oil production and rumors of a production freeze among some members of the Organization of Petroleum Exporting Countries.

Oil production in North Dakota as of February, the last full month for which the state has data, was 1.1 million barrels per day, down about 0.3 percent from January and nearly 9 percent below the all-time high recorded in December 2014.

Economists have said the supply-side pressures that pushed oil prices sharply lower last year are starting to fade, though few expect prices to recover to $100 any time soon.

Helms said he expected the pressure from lower crude oil prices could last until the middle of next year.


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

Previous Report
OIL AND GAS
Saudi king sacks utilities minister amid anger over prices
Riyadh (AFP) April 24, 2016
The king of Saudi Arabia has sacked the country's water and electricity minister, Abdullah al-Hussayen, amid public anger over price hikes, state media reported. King Salman issued a decree on Saturday ordering his dismissal and replacement in the interim by Agriculture Minister Abdel Rahman al-Fadli, said the official SPA news agency. His removal comes after the government reduced subsi ... read more


OIL AND GAS
30 years on, Russia's Chernobyl victims say they have been abandoned

Ecuador's president announces economic measures in wake of killer quake

NATO warns migrant smugglers 'shifting routes rapidly'

NASA tests earthquake mitigation system

OIL AND GAS
Satellite touchdown in run up to Galileo launch

Russian Glonass Satellite Scheduled for Launch on May 21

Glonass navigation system's ground infrastructure successfully completed

China launches 22nd BeiDou navigation satellite

OIL AND GAS
Bigger brains led to bigger bodies in our ancestors

How the brain consolidates memory during deep sleep

Are humans the new supercomputer

Brain observed filing memories during sleep

OIL AND GAS
The Red Queen rules

All ants on deck

EMBL scientists reveal structure of nuclear pore's inner ring

Ivory Coast deploys rangers to protect dwarf elephants

OIL AND GAS
The genetic evolution of Zika virus

5 mn AIDS patients going untreated in west, central Africa: MSF

Research finds Zika 'significantly changed' since 1947

China detained more than 200 over vaccine scandal

OIL AND GAS
New fears for press freedoms as Hong Kong editor sacked

China sets death penalty threshold in graft cases

Twitter's new China head wants to 'work together' with state media

More Western art on shopping list for Chinese tycoon Liu

OIL AND GAS
Mexican soldiers detained as torture video surfaces

Pirates abduct six Turkish crew off Nigeria: navy

US, Hong Kong bust huge smuggling operation

10 gang suspects killed in northern Mexico

OIL AND GAS
China posts slowest quarterly growth on record: govt

Alibaba financial affiliate valued at $60 bn

China GDP growth slows to 6.7% in first quarter: govt

Dark economic cloud over IMF-World Bank meeting









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.