US Oil & Gas Drilling Rig Tally Falls: Here's What it Means

Zacks04-17

In its weekly release, Baker Hughes Company BKR stated that the U.S. rig count was lower than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and...

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The rotary rig count, issued by BKR, is usually published in major newspapers and...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-oil-gas-drilling-rig-121100750.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Oil & Gas Drilling Rig Tally Falls: Here's What it Means</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Oil & Gas Drilling Rig Tally Falls: Here's What it Means\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-17 20:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-oil-gas-drilling-rig-121100750.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In its weekly release, Baker Hughes Company BKR stated that the U.S. rig count was lower than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-oil-gas-drilling-rig-121100750.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://finance.yahoo.com/news/us-oil-gas-drilling-rig-121100750.html","article_id":"2428343902","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/3Ks_n9RBKqD6aDY_PEmslw--~B/aD0zOTE7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2d3bd426bc7ea2b4b773ff953ea5105c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428343902","pubTimestamp":1713355860,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"In its weekly release,Baker Hughes CompanyBKR stated that the U.S. rig count was lower than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company’s oilfield services from exploration and production companies.Total U.S. Rig Count Falls:The number of rigs engaged in the exploration and production of oil and natural gas in the United States was 617 in the week ended Apr 12, lower than theweek-ago count of 620. The current national rig count was also lower than the year-ago level of 748. This reflects the fact that there has been a slowdown in drilling activities. Many analysts believe that shale producers are getting more efficient, requiring","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","BK4566":"资本集团","LU0251142724.SGD":"Fidelity America A-SGD","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","BKR":"贝克休斯","BK4588":"碎股","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4179":"石油天然气设备与服务","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","MTDR":"Matador Resources","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4213":"石油与天然气的勘探与生产","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","TTTN":"老虎中美互联网巨头ETF","FANG":"Diamondback Energy","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0256331488.USD":"SCHRODER ISF GLOBAL ENERGY \"A\" ACC","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD"},"translate_title":"美国石油和天然气钻井平台数量下降：这意味着什么","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKR":1,"FANG":1,"MTDR":0.9,"TTTN":0.63},"content_text":"In its weekly release, Baker Hughes Company BKR stated that the U.S. rig count was lower than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.\nBaker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company’s oilfield services from exploration and production companies.\nRig Count Data in Detail\nTotal U.S. Rig Count Falls: The number of rigs engaged in the exploration and production of oil and natural gas in the United States was 617 in the week ended Apr 12, lower than theweek-ago count of 620. The current national rig count was also lower than the year-ago level of 748. This reflects the fact that there has been a slowdown in drilling activities. Many analysts believe that shale producers are getting more efficient, requiring fewer rigs, while some doubt whether certain producers have enough prospective land to drill.\nOnshore rigs in the week that ended on Apr 12 totaled 598, lower than the prior week's count of 600. In offshore resources, 19 rigs were operating, which declined from the week-ago count of 20.\nU.S. Oil Rig Count Falls: The oil rig count was 506 in the week ended Apr 12, decreasing from the week-ago figure of 508. The current number of oil rigs — far from the peak of 1,609 attained in October 2014 — is also down from the year-ago figure of 588.\nU.S. Natural Gas Rig Count Declines: The natural gas rig count of 109 was lower than the week-ago figure of 110. The count of rigs exploring the commodity was also below the year-ago week’s 157. Per the latest report, the number of natural gas-directed rigs is almost 93.2% lower than the all-time high of 1,606 recorded in 2008. \nRig Count by Type: The number of vertical drilling rigs totaled 12 units, flat with the week-ago count. The horizontal/directional rig count (encompassing new drilling technology with the ability to drill and extract gas from dense rock formations, also known as shale formations) of 605 was lower than the prior-week level of 608.\nRig Count in the Most Prolific Basin\nPermian — the most prolific basin in the United States — recorded a weekly oil and gas rig count of 316, lower than the week-ago figure of 317. The count is also below the prior-year level of 356.\nOutlook\nThe West Texas Intermediate crude price is trading at more than the $80-per-barrel mark. Although the commodity pricing scenario is favorable for exploration and production operations, there has been a slowdown in drilling activities, which may continue as upstream players are prioritizing stockholder returns rather than boosting output.\nAmid the backdrop, investors seeking medium to long-term gains may keep an eye on energy stocks like Diamondback Energy, Inc. FANG and Matador Resources Company MTDR.\nDiamondback Energy, a leading pure-play Permian operator, has reported ongoing enhancements in the average productivity per well in the Midland Basin. The exploration and production company is likely to continue witnessing increased production volumes. FANG, carrying a Zacks Rank #3 (Hold), also has an investment-grade balance sheet. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nMatador Resources has a strong presence in the oil-rich core acres of the Wolfcamp and Bone Spring plays in the Delaware Basin. Promising oil prices are likely to aid it in increasing production volumes. Matador acquired Advance Energy Partners Holdings, LLC, which comprises several oil and natural gas-producing properties and undeveloped acreage. Zacks #3 Ranked MTDR expects the buyout to be accretive to important valuation and financial metrics.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBaker Hughes Company (BKR) : Free Stock Analysis Report\nDiamondback Energy, Inc. (FANG) : Free Stock Analysis Report\nMatador Resources Company (MTDR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428343902"}