Industry at a glance
Vol. 223 No. 12 The natural gas price for Nov. jumped to $4.12/Mcf, the highest since May 2001. The U.S. rotary rig count continued its slide to 851 rigs, while the international rig count climbed to 1,050 in
The natural gas price for Nov. jumped to $4.12/Mcf, the highest since May 2001. The U.S. rotary rig count continued its slide to 851 rigs, while the international rig count climbed to 1,050 in October. Both worldwide and U.S. seismic crew activity dropped slightly in November aided by significant drops in Africa, Europe and the Far East. World crude output climbed almost 2% due in large part to increased production from Saudi Arabia, Venezuela and Iraq. U.S. oil production continued its decline, but recovered from the series of tropical storms traveling through the Gulf of Mexico. Mobile offshore rigs in the U.S. Gulf of Mexico continue their migration from shallow into deeper water, significantly dropping offshore rig counts |
