May 2015
News & Resources
Industry at a glance
Industry at a glance
Crude oil prices held on to modest gains in March and April, although, at $57.86/bbl, Brent Blend was still trading 50% below its peak of June 2014. West Texas Intermediate in April was up slightly from the month before, averaging $52.90/bbl. World crude oil production continued its upward trajectory, led by OPEC, which posted its highest monthly increase in almost four years. Year-over-year, production rose by 3.5 MMbpd, worldwide. The U.S. rotary rig count slipped below the 1,000-rig threshold for the first time since October 2009, averaging just 976 units. Outside the U.S., the rig count lost more than 100 units, to average about 1,350. Following the relatively cold winter of 2015, natural gas prices sagged, to average $2.63/MMBtu.
U.S. GAS PRICES ($/MCF) AND PRODUCTION (BCFD) GRAPH
U.S. ROTARY DRILLING RIGS GRAPH
U.S. ROTARY DRILLING RIGS TABLE
WORKOVER RIG TABLE
U.S. OIL PRODUCTION TABLE
U.S. ONSHORE WELL COUNT TABLE
WORLD OIL PRODUCTION TABLE
SELECTED WORLD OIL PRICES GRAPH
INTERNATIONAL ROTARY RIG GRAPH
INTERNATIONAL ROTARY RIG TABLE
INTERNATIONAL OFFSHORE RIGS TABLE
About the Authors
Henry Terrell
Contributing Editor
Henry Terrell henry.terrell@gulfpub.com
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- Subsea technology- Corrosion monitoring: From failure to success (February 2024)
- Digital tool kit enhances real-time decision-making to improve drilling efficiency and performance (February 2024)
- E&P outside the U.S. maintains a disciplined pace (February 2024)
- U.S. operators reduce activity as crude prices plunge (February 2024)
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)