U.S. oil and gas rig counts rose from 14 to 617 per week, according to companies

Highlights

Bacon sees the biggest weekly change of 3 to 25

The Permian Basin dropped 257 when it fell by 1 Reg

Operator 2022 proposal suggests caution in oil markets

U.S. oil and gas compression figures jumped from 14 to 617 a week, according to Energy Analysts and Software Envelope. On August 12, the highest level of activity began in early April 2020, when major companies completed their second quarter earnings calls in a concluding note.

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Gas stations closed at 474, 11, and gas stations at 143, ending August 3. August rose horizontal from eight to six to 469 – and this is the highest since mid-April. 2020

“Looking ahead, we will continue to see a relatively modest horizontal movement on the Q3 2021 scale, followed by a strong uptrend in the Q4 period,” said Investor Bank Tudor Pick Hall in an August 9 daily investor note. .

Geographically, the largest weekly change basin is North Dakota / Montana Bacchus, with a total of 25 rigs. That is the highest level of activity in that game, which has actually been limited in recent weeks, since the end of April 2020.

Haynesville, a gas-fired gas station in eastern Texas / northwestern Louisiana, last week lifted two items for a total of 57 refills. And the acquisition of a single rifle played South Texas eagle Ford Shale and SCOOP-STACK in Oklahoma, scoring 41 and 30, respectively.

In addition, the Persian Basin of West Texas / New Mexico, like Marshius Shale, usually settled in Pennsylvania, leaving 257 and 31 respectively.

DJ, the Utica basins have not changed

Most of Colorado’s and Utika Shale’s DJ basins remain unchanged at 15 and 13 degrees.

E&P operators’ quarterly earnings calls Q2, most of which ended last week, reflect growing confidence in the strength and stability of oil prices. Manufacturers appear to have not been tested by high oil prices in recent months – although those prices have declined slightly over the past week.

For example, WTI NYMEX oil prices fell an average of $ 68.28 / b, $ 3.23, WTI Midland averaged $ 68.39 / b, $ 3 and buckwheat mergers averaged $ 67.56 / b, to $ 2.93, according to S&P Global Platts.

However, natural gas prices strengthened, reaching an average of $ 4.14 (MMBtu), up to 15 cents, and in the Dominican South at $ 3.72 (MMBtu, 55 cents).

Overall, E&P spent approximately 25% of its full year in Q2, or about 47% in the first half of 2021, with approximately 30% higher planned wells (511 in H1 2021), credit loan analyst William Jenella on August 11. On note.

“At current strip prices, we expect E&P to account for 41% of this year’s cash flow,” Jenella said.

Pre-E and P company commentary on signs of 2022 continues, says Jenella, and operators appear to be taking a more conservative approach to this maintenance situation.

Are oil markets manually supported?

Many operators have pointed out that the foundations of the oil market are man-made, and there is interest in the variants of the virus.

“By 2022, we will continue to have a total U.S. gross domestic product (GDP) of about 11.5 million B / d, which is 11% year-over-year, with a strong 20%-over-the-year growth rate from private E and MZ,” Jenella said.

Credit Suisse 2022 is below the US Energy Information Administration’s target of 11.8 million B / d (the agency lowered another estimate of 80,000 B / d in August short-term energy outlook) and 3% lower than the International Energy Agency’s estimate of 11.9. Million B / d.

We think [both agencies] The ability of the public E & Ps to maintain capex discipline next year is still undermining, ”Jenella said.

He also said that the hydraulic fracture was restored after two consecutive months.

We believe we are at the bottom right now [frac] E&P operators will issue a number of guidelines to cut the line on crude oil production by 2021 (ie maintenance standards). The Bank said: “Looking ahead, we are currently recording an average of 230-240 active broadcasts in 2022 and 2322. Previously 220-230 ”

In the United States, 235 fractions, or “tools / workers,” are expected to be the first of the week, the week is active on August 6, four times less than last week, although the total number of payments last month or so.

The supply (spreads around 350+) is still in demand (north of 210 broadcasts), and we believe that the net frame rate should start to rise as we begin to offer about 230-250 active expansions. In our view, it will be fruitful in 2022.

Going forward in the second half of the year, WTRG Economics Consultant President James Williams expects both Rig activity and Frankie growth.

“The two biggest challenges right now are to get their workers back on track and get truck drivers to drive equipment for the industry,” Williams said. There is a demand for trucks.

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