|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Houston (UPI) Dec 30, 2014
The number of rigs actively exploring for or producing U.S. oil and gas reserves was down short term, but still up year-on-year, Baker Hughes reported. Baker Hughes reported 1,840 rigs actively exploring for or producing reserves in the United States for Monday, down 35 from the week ending Dec. 19. The price for West Texas Intermediate, the U.S. oil price index, is down close to 50 percent from its peak in June. The price is at the point which some operators in U.S. shale basins may struggle to make a profit. The price at which drillers break even in U.S. shale depends on the reserves, with prices ranging from around $50 per barrel for some Texas deposits to around $75 from some central U.S. fields. Energy consultant group Wood Mackenzie finds most U.S. producers should be able to adapt to a lower price environment. It finds prices near $70 for WTI to be a threshold, though the slump is "so far not a material threat to U.S. tight oil or the industries that surround it." Baker Hughes' data reflects some durability in the United States. The count of 1,840 for Monday was about 5 percent, or 83, more than recorded on the same date in 2013. In Canada, where the up-front investment is higher, the rig count of 256 was 135 less than the number reported for the week ending Dec. 19, though down only 7 from the previous year. Internationally, Baker Hughes found an increase of 16 for the week and 13 year-on-year.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |