Baker Hughes reports that US oil and gas drillers have added rigs to their fleet for the third time in just four weeks.
Baker Hughes, a leading energy services company, said that U.S. energy companies added oil and gas rigs this week for the third consecutive time in just four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending November 7 to 548. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 414 in this week's report, while gas-rigs increased by three to 128 - their highest level since August 2023. The number of miscellaneous drilling rigs decreased by one, to six.
Atmos Energy expects to earn more in 2026 after a quarterly profit increase
Atmos Energy, the U.S. distributor of natural gas, forecast on Wednesday higher earnings for fiscal year 2026 after posting a 30% increase in its fourth-quarter profits. The utility is ramping up capital expenditures on pipeline safety and technology. In fiscal 2026, the Dallas-based utility expects to earn a profit per share between $8.15 and $8.35, compared with $7.46 this year. According to the U.S. Energy Information Administration’s Short-Term Energy Outlook, both natural gas production and demand in the United States are expected to reach record levels by 2025. Atmos said that it would also raise its dividend for 2026 by 14.9%, to $4.00 per share.
EIA: Oil producers must increase drilling to maintain production
The U.S. Energy Information Administration announced on Tuesday that oil and gas producers would need to increase drilling in order to maintain or increase production due to the rapid decline of existing wells. WHY IT MATTER The U.S. has the largest oil production in the world, reaching a record of 13.8 million barrels a day in August. The weak oil price and increasing costs have forced energy companies to reduce billions of dollars in spending and slow drilling, slowing the growth of production. OPEC+ - the largest grouping in the world of oil producing nations and their allies - has also been rolling back its production cuts to clawback market share.
Coterra Energy misses quarterly profit, raises 2025 production forecast
Coterra Energy, an oil and gas company, missed Wall Street's expectations for the third quarter profit on Monday as lower oil prices offset an increase in production. However, it raised its production forecast. In after-market trading, shares of the company fell 3% to $23.66. U.S. president Donald Trump's policies on trade fueled uncertainty in the energy sector, as trade tensions escalating threatened to slow down global economic growth and weaken demand for energy. Crude oil prices in the quarter of July-September averaged $68,33, a drop of more than 13% compared to a year ago, as OPEC+ increased output and raised fears about an oversupply.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending October 31 to 546, the lowest level since September. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. The report said that oil rigs dropped by six this week to 414, their lowest since September. Gas rigs, on the other hand, rose by four, to 125, which is their highest level since August 2023.
Utility WEC Energy beats profits on higher power demand
WEC Energy Group beat Wall Street's expectations for the third quarter profit, and posted an 13% increase in net income. The utility also benefited from higher electricity demand among all customer segments. The U.S. Energy Information Administration predicts that power demand in the United States will reach record levels in 2025-2026. This is due to the growth of AI and cryptocurrency datacenters, as well as broader electrification. The consumption of electricity by large commercial and industry customers increased 2.5%, while the consumption of electricity by small commercial customers and industrial customers increased 1.1%.
DTE Energy increases its five-year plan to spend $6.5 billion on data centers power demand
Oct 30 – DTE Energy raised its capital investment plan for the next five years by $6.5 billion. This was due to an increase in electricity demand by data centers, and to efforts to modernize utility assets. DTE's third-quarter profits also exceeded Wall Street expectations thanks to higher revenues from its electric division. Utility said that its revised investment plan represents a 22% increase over its previous plan for 2025-2029, and reflects its push to expand clean-energy generation and improve grid reliability. As power demand increases across the nation…
NextEra beats quarterly profit estimates on renewables strength, robust power demand
NextEra Energy surpassed Wall Street expectations for its third-quarter adjusted profits on Tuesday. This was due to the strength of its renewables unit, as well as increased demand from data centres fueling artificial intelligence's boom. According to the U.S. Energy Information Administration, power consumption will reach record levels in 2025 and in 2026 due to a surge of demand for data centers that run artificial intelligence technology. In premarket trading, shares of the company rose 2.2%. Florida Power & Light's (FPL), its regulated utility, reported a net profit of $1.46bn, an increase of 13.2% over the previous year.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the second week running.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since September. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending October 24 to reach 550, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total number of rigs was still 35 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs increased by two this week to 420, while gas-rigs remained at 121.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations. However, a rebound followed, as well as long-term LNG demand and domestic sales, have kept global buyers interested.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 17. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 418 rigs this week while gas rigs increased by one, to 121 rigs, the highest level since August. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
North American LNG Exporters Look to Double Capacity by 2029
Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday.The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added that the U.S.
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil and natural gas sector has been overshadowed by shale because it requires more upfront investment and years of construction. The entry costs for shale were lower and the returns faster, so the rapid expansion of shale led to the U.S. becoming the top oil producer in the world. The U.S. president Donald Trump has introduced regulations that are friendly to the industry. As the Permian field, one of the largest fields in the world, is depleted, the most productive shale regions are being tapped.
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August. The Permian Basin…
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S. gas and oil prices…
EIA: U.S. propane stocks well-stocked for winter heating season
U.S. Energy Information Administration reported on Tuesday that the U.S. has a good supply of propane for the winter. The EIA reported that the U.S. inventory of propane for the week ending September 26 was 103,000,000 barrels. This is about 13,000,000 barrels higher than the five-year average at this time, according to data taken from its weekly Petroleum Status Report. Propane inventories can be used to determine the supply and demand of propane. Winter months are more demanding because propane is the primary heating fuel for about 5% U.S. households, mostly in the northern Midwest and Northeast.
Baker Hughes reports that US oil and gas drillers have reported the same number of rigs for the week, 549.
Baker Hughes, a leading energy services company in the United States, said that this week U.S. firms kept the number oil and gas rigs almost unchanged. In the week ending October 3, the rig count, including a miscellaneous group, which is an early indicator of future production, remained at 549. Baker Hughes reported that the total number of rigs was 36, or 6.2% lower than this time last. Baker Hughes reported that oil rigs dropped by two this week to 422 while gas rigs increased by one to be at 118. Oil and gas rig counts declined by approximately 5% in 2020 and 20% in 2030 as lower U.S.
Baker Hughes reports that the US oil and gas rig counts have reached their highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the fourth consecutive week for the first since February. The number of oil and gas drilling rigs, a good indicator of future production, increased by seven in the week ending September 26 to 549, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total count is still 38 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs increased by six this week to 424, the highest level since July. Gas rigs, on the other hand, fell by one, to 117, which is their lowest level since July.
Baker Hughes reports that the US oil and gas rig count has reached its highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for a fourth consecutive week for the first since February. In the week ending September 26, the oil and gas rig counts, a leading indicator of future production, increased by seven, to 549, its highest level since June. Baker Hughes reported that oil rigs increased by six this week to 424, the highest level since July. Gas rigs, on the other hand, fell by one, to 117, which is their lowest level since July. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. In the week ending September 19, the oil and gas rig counts, a good indicator of future production, increased by three, to 542. This is its highest level since July. Baker Hughes reported that despite this week's increase in rigs the total number was still 46 rigs or 8% lower than this time last year. Baker Hughes reported that oil rigs increased by two this week to 418, the highest level since July. Gas rigs remained at 118. Drillers added two drilling rigs in Colorado, Wyoming and Nebraska this week.