#rigcount

[octg-network]

Enverus:#RigData - US Weekly Rig Count ending November 12, 2020 = 379 (+20) #oilandgas #enverus #rigcount #oilandgaspeople #oilcountrymedia https://www.instagram.com/p/CHif044jLwC/?igshid=mb62gmrnkz8m

[octg-network]

Enverus:RigData - US Weekly #RigCount ending November 5, 2020 = 359 (+11). YoY is down 517. #enverus #rigdata #oilandgasindustry #oilandgas #oilcountrymedia https://www.instagram.com/p/CHQ6VUJj9Fh/?igshid=pzzjigansbfx

[drillersclub]

Latest and Greatest #rigcount #drillersclub #oilfield https://www.instagram.com/drillersclub/p/BtD_7INnJgk/?utm_source=ig_tumblr_share&igshid=1horujbc0nc5b

[shaledirectory]

Production Up for Top Three Shippers Readying for Atlantic Sunrise

Jim Willis Editor & Publisher, Marcellus Drilling News (MDN)

  Cabot, Seneca and Chief have been ramping up production in preparation of the Atlantic Sunrise pipeline coming online this month.

According to a report from BTU Analytics, the top three shippers who will soon flow natural gas along Williams’ Atlantic Sunrise Pipeline (ASP), Cabot Oil & Gas, Seneca Resources and Chief Oil & Gas, have “nearly doubled” their rig counts over the past few months leading up to the imminent startup of ASP.

Cove Point

The pipeline is due to go online any day now, by the end of August. Cabot has reserved 1 billion cubic feet per day (Bcf/d) of the 1.7 Bcf/d capacity of the new ASP. One third of Cabot’s 1 Bcf/d (350 million cubic feet per day, MMcf/d) will flow to Dominion’s Cove Point LNG export plant in Maryland, heading for Japan. Another 500 MMcf/d of Cabot’s gas will go to Washington Gas via ASP, meaning northeast PA Marcellus molecules will help heat, cool and power D.C. swamp dwellers. Joy.

Here’s the great news that a single pipeline is stirring up a lot more drilling in northeastern PA.

Natural gas drilling activity in the US northeast is ramping up ahead of the full start-up of Williams’ 1.7 Bcf/d Atlantic Sunrise pipeline project later this month, which will allow inexpensive Appalachian gas to reach new markets on the Atlantic seaboard.

Independent producers Cabot Oil & Gas and Seneca Resources have capacity on the $3bn line, which will expand the Transcontinental Gas (Transco) pipeline in order to allow gas to move from the Marcellus shale in northeast Pennsylvania to Transco’s compressor station 195 in southeastern Pennsylvania. The 183-mile expansion also allows for Appalachian gas to reach the new Cove Point LNG facility in Maryland, which exported an estimated 23.5 Bcf in May.

Atlantic Sunrise began partial flows of 550mn cf/d earlier this summer and is expected to reach design capacity in the second half of August.

Total rig counts for the top three shippers on the line — Cabot, Seneca and privately-held Chief Oil & Gas — have nearly doubled in the months leading up to Atlantic Sunrise’s start-up, according to BTU Analytics.

Dry-gas production in June from the Marcellus shale, the largest US gas field by volume, topped more than 20 Bcf/d, up by 1.4pc from the prior month and 18pc higher than a year earlier, according the US Energy Information Administration (EIA). Gas production in the Marcellus likely received a boost in that month as Atlantic Sunrise began partial flows, providing crucial takeaway capacity for producers there.

Cabot has contracted for 350mn cf/d of capacity on Atlantic Sunrise, and has a 20-year supply agreement for its flows to Cove Point with Pacific Summit Energy, the North American marketing and trading affiliate for Japanese trading company Sumitomo. Cabot also has a 15-year agreement with distributor Washington Gas for 500mn cf/d via Atlantic Sunrise, among other sales agreements that total up to 1 Bcf/d of commitments on the expansion.

Cabot has said it will fulfill its commitments initially with a combination of redirected volumes and new production, “so we should not expect a one-for-one bump in new production with takeaway capacity coming on line,” BTU Analytics said.

National Fuel Gas’ producing subsidiary Seneca has capacity on the line as well, and earlier this year said it planned to develop its eastern Pennsylvania acreage further specifically for the arrival of Atlantic Sunrise. National Fuel Gas is also working in tandem with Transco on expanding its Leidy Line in Pennsylvania by 800mn cf/d, which should boost Seneca’s transport on that line by 10pc to 319mn cf/d.

Once Atlantic Sunrise begins full flows Tennessee Gas pipeline zone 4 Marcellus prices should narrow their discount to the Henry Hub. That index since the beginning of July — after the project began partial flows — has averaged a 53¢/mmBtu discount to the US benchmark, narrowing from $1.03¢/mmBtu a year earlier.

Click for larger view.

For more great articles on natural gas development every single business day, subscribe to Marcellus Drilling News using this convenient link.

The post Production Up for Top Three Shippers Readying for Atlantic Sunrise appeared first on Natural Gas Now.

https://www.shaledirectories.com/blog/production-up-for-top-three-shippers-readying-for-atlantic-sunrise/

[ogesinfo]

Baker Hughes International Rig Count for June 2018

https://oges.info/library/160433/baker-hughes-a-ge-company-announces-june-2018-rig-counts

[octg-network]

ICYMI: US #RigCount is 1,083 this week (+14). Permit count is 1,114 (+289). 45 rigs wait to spud & 427 rigs moved. http://ow.ly/utrW30iL8Wk Oil Country! ___________________________ #oilbusiness #fieldengineer #upstream #landforsale #makingconnections #drillingrig #oilcountry #wireline #fraclife #tubing #businessnetworking #goalhelper #oilandgasindustry #oilfield #oilfields #oilfieldstrong #oilfieldfamily #inspirationalpost #socialinfluencer #oilandgas #oilcountrymedia #americanbusiness #millionaireimage #marketingpro #casing #getting #socialmediamarketingtips #oilandgas #thinkstrong #drillinginfo #oilandgas #drillbabydrill #fraclife

[itzstockchartz]

Although a lagging indicator the rig count is rising. with WTI now flirting with $50 could we see the Rig Count decline? XLE possibly setting up a Right Shoulder on an Inverted Head & Shoulders pattern on a weekly chart... ITZ has a downside PT on WTI of $48 then a reversal higher. Yearend price objective of $60.

[octg-network]

U.S. drillers add most oil rigs in a quarter since Q2 2011 -Baker Hughes

March 31 (Reuters) - U.S. drillers added oil rigs for an 11th week in a row in the best quarter for boosting the rig count since the second quarter of 2011, as a ten-month recovery gathers pace with energy companies boosting spending on new production. Drillers added 10 oil rigs in the week to March 31, bringing the total count up to 662, the most since September 2015, energy services firm Baker Hughes Inc said on Friday. RIG-OL-USA-BHI During the same week a year ago, there were 362 active oil rigs. The 137 rigs added in the first quarter is the biggest boost in a quarter since the drillers activated a record 152 rigs in the second quarter in 2011, according to Baker Hughes data going back to 1987. This recent rig count increases have come despite a collapse in U.S. crude futures this month to levels seen when the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut production on Nov. 30. U.S. crude futures eased to around $50 a barrel on Friday, putting the contract on track for its worst quarter since 2015, as investors fret that growing U.S. supplies are undermining the OPEC-led cuts. Since crude prices first topped $50 a barrel in May after recovering from 13-year lows in February 2016, drillers have added a total of 346 oil rigs in 40 of the past 44 weeks, the biggest recovery in rigs since a global oil glut crushed the market over two years starting in mid 2014. Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May 2016 as U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016. Analysts projected U.S. energy firms would boost spending on drilling and pump more oil and natural gas from shale fields in coming years with energy prices expected to climb. Futures for the balance of 2017 were trading over $51 a barrel, while calendar 2018 was fetching almost $52 a barrel. Analysts at Simmons & Co, energy specialists at U.S. investment bank Piper Jaffray, this week forecast the total oil and gas rig count would average 843 in 2017, 968 in 2018 and 1,079 in 2019. Most wells produce both oil and gas. That compares with an average of 742 so far in 2017, 509 in 2016 and 978 in 2015, according to Baker Hughes data. Analysts at U.S. financial services firm Cowen & Co said in a note this week that its capital expenditure tracking showed 57 exploration and production (E&P) companies planned to increase spending by an average of 50 percent in 2017 over 2016. That expected spending increase in 2017 followed an estimated 48 percent decline in 2016 and a 34 percent decline in 2015, Cowen said according to the 64 E&P companies it tracks. (Reporting by Scott DiSavino; Editing by Marguerita Choy)