US Active Crude Rig Count Down By 3, Nat Gas Up by 4: BHGE
One drilling rig was added last week to the US oil and gas active rig count, according to Baker Hughes GE (BHGE), but natural gas was the driver with four rigs added while crude oil rigs dropped by three.
Total rigs in use are now 944 overall.
Texas was flat with no new rigs added; two were taken out of service in Alaska and one taken out in each of Louisiana, Arkansas and Colorado.
This, while oil prouction in the lower 48 states dipped massively by 800,000 barrels per day, according to the US Energy Information Administration
Moody's Investor Service Inc. said Thursday that about 45% of Gulf Coast refining capacity that was affected by Hurricane Harvey is back online.
The worldwide rig count for August 2017 was 2,116, up 6 from the 2,110 counted in July 2017, and up 569 from the 1,547 counted in August 2016.
The international offshore rig count for August 2017 was 201, down 3 from the 204 counted in July 2017, and down 27 from the 228 counted in August 2016., BHGE said Friday.
Refinery inputs dropped by 3.3 million barrels per day for the week as refiners operated at 79.9% of their operable capacity nationwide, according to TheStreet.
By Mike Shiloh
Copyright September 08, 2017, Mike Shiloh, Texas Energy Report LLC, www.texasenergyreport.com, All rights are reserved