Growing U.S. Oil Supply and High Natural Gas Demands

Published: Thu, 09/22/22

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Upcoming IADD events

Join us for the IADD Monthly Luncheon on Thursday, September 22nd. The topic is Borehole Quality: are we minding our "P's" and "Q's"?

Speakers are Jose Tang Torres, an MPD Engineer with NOV, Bill Lesso with LF Pinewood Consultants, and Rauan Yepekov with Baker Hughes! We hope to see you there!

Join us for the IADD Annual Sporting Clays Tournament on Friday, December 2nd. The event will last all day, from 8:30 am to 5:00 pm. We hope to see you there!

Industry News

Record Permian Well Permits Point To Growing U.S. Oil Supply

U.S. Shale Bosses Tell Europe: ‘There’s No Bailout Coming’

Increase in Oil and Gas Prices on the Horizon

Exploration & Production

Technology & Innovation

Zanskar's Software Helps De-Risk Geothermal Power

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Baker-Hughes Rig Count

For last week:

U.S. Rig Count is up 4 from last week to 763 with oil rigs up 8 to 599, gas rigs down 4 to 162, and miscellaneous rigs unchanged at 2.
U.S. Rig Count is up 251 rigs from last year’s count of 512 with oil rigs up 188, gas rigs up 62, and miscellaneous up 1.
U.S. Offshore Rig Count is unchanged at 15, up 9 year-over-year.

For last month:

International Rig Count is up 27 rigs from last month to 860 with land rigs up 17 to 650, offshore rights up 10 to 210.
The average U.S. Rig Count for August was 764 up 8 from last month’s count of 756 and up 263 year-over-year.
The Worldwide Rig Count for August was 1,825, up 50 from the 1,775 counted in July 2022, and up 391 from the 1,434 counted in August 2021.

Additional information on the Baker-Hughes Rig Count is available on their website, at https://bakerhughes.com/rig-count-overview.