•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Texas running one-quarter of all drilling rigs

    With 889 rigs currently operating, Texas is running 47% of the 1,873 drilling rigs currently operating within the US, according to Baker Hughes data published June 26. Held against May worldwide drilling rig figures of 3,371, Texas holds 26% of drilling rigs operating worldwide. Not only did Texas post the strongest growth in number of drilling rigs year over year—up 57 from last year’s total of 832, but the state’s current numbers equate to one-quarter of all drilling rigs on Earth.

    While modern technology has made drilling more efficient, thus making the total number of rigs less significant, the data still points to the state’s stronghold in the oil and gas industry.  In fact, advances in horizontal drilling technology have resulted in a revival of drilling in Texas’s Permian Basin—the state’s No. 1 region for active drilling rigs. The area is up 88 rigs from last year, bringing the total to 554 rigs as of June 26. While the Eagle Ford lost 13 rigs from this time last year, the 227 rigs currently running are enough to hold region in the No. 2 spot for number of rigs drilling in the state.                                                                                                                            

     

     

     

    (TX oil well/Shutterstock/mj007)

    Did You Like This Article?

    Get a free subscription to Oil & Gas Financial Journal.

    Related Articles

    NCS Energy Services sets completion records in Bakken/Three Forks areas

    11/11/2014 NCS Energy Services has set two new completion records for its proprietary multistage unlimited coiled-tubing completion technology. The wells were completed for an independent operator in McKenzie...

    GCA: Falling oil price to have uneven effect on US unconventional plays

    11/11/2014 Falling oil prices will have an uneven effect across US unconventional plays based on the qualities of reservoirs within any given play, Gaffney Cline & Associates said in a recent report, noti...

    Halcón cutting number of drilling rigs due to slide in oil prices

    11/11/2014

    Halcón Resources Corp. is cutting nearly half the rigs it originally planned to operate next year due to the more than 25% slide in crude oil prices.

    US ethane exports ‘imminent’ amid flood of supply from shale plays

    11/11/2014 US ethane production, forecast to reach 2.5 million barrels per day (b/d) by 2024, will cause supply to exceed domestic demand, making exports “imminent,” according to a report from Bentek Energy, ...

    Medallion Pipeline conducting binding open season

    11/10/2014 Medallion Pipeline Co. LLC, a subsidiary of Medallion Midstream LLC, is conducting a binding open season to solicit long-term commitments from shippers for capacity on two projects that will substa...

    More Oil & Gas Financial Articles

    NCS Energy Services sets completion records in Bakken/Three Forks areas

    Tue, Nov 11, 2014

    NCS Energy Services has set two new completion records for its proprietary multistage unlimited coiled-tubing completion technology. The wells were completed for an independent operator in McKenzie County, North Dakota.

    GCA: Falling oil price to have uneven effect on US unconventional plays

    Tue, Nov 11, 2014

    Falling oil prices will have an uneven effect across US unconventional plays based on the qualities of reservoirs within any given play, Gaffney Cline & Associates said in a recent report, noting there exists a complex relationship between the pace of shale production and falling futures prices for light, sweet crude oil.

    Halcón cutting number of drilling rigs due to slide in oil prices

    Tue, Nov 11, 2014

    Halcón Resources Corp. is cutting nearly half the rigs it originally planned to operate next year due to the more than 25% slide in crude oil prices.

    US ethane exports ‘imminent’ amid flood of supply from shale plays

    Tue, Nov 11, 2014

    US ethane production, forecast to reach 2.5 million barrels per day (b/d) by 2024, will cause supply to exceed domestic demand, making exports “imminent,” according to a report from Bentek Energy, an analytics and forecasting unit of Platts.

     

    Medallion Pipeline conducting binding open season

    Mon, Nov 10, 2014

    Medallion Pipeline Co. LLC, a subsidiary of Medallion Midstream LLC, is conducting a binding open season to solicit long-term commitments from shippers for capacity on two projects that will substantially extend and expand its existing crude oil pipeline system's geographic scope. The open season ends Dec. 1.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ