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U.S. Rig Count “Crashes” Week over Week
Posted on 5/23/25 at 3:14 pm
Posted on 5/23/25 at 3:14 pm
quote:
The total number of active drilling rigs for oil and gas in the United States came crashing down this week, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week.
The total rig count in the US fell by 10 to 566 rigs, according to Baker Hughes, down 34 from this same time last year.
The number of oil rigs fell by 8 to 465 after falling by 1 during the previous week—and down by 32 compared to this time last year. The number of gas rigs slipped by 2 this week, to 98 for a loss of 1 active gas rigs from this time last year. The miscellaneous rig count stayed the same at 3.
The latest EIA data showed that weekly U.S. crude oil production rose, from 13.387 million bpd to 13.392 million bpd. The figure is 239,000 bpd down from the all-time high reached during the week of December 6, 2024.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell again during the week of May 16, this time to 193, compared to 195 in the week prior. The count is now 22 below where it was on March 21.
LINK
Truck nuts ON [OFF], baws.
9
Posted on 5/23/25 at 3:16 pm to ragincajun03
quote:
Truck nuts ON [OFF], baws.
Did you see the latest BIC report on refineries? Damn near every one lost money in 1Q25
Posted on 5/23/25 at 3:17 pm to Oilfieldbiology
No wonder crawfish prices were so low this year.
Posted on 5/23/25 at 3:24 pm to ragincajun03
quote:
Truck nuts ON [OFF], baws.
Pfft. OT ballers are in on the lithium bonanza.
Posted on 5/23/25 at 3:57 pm to ragincajun03
quote:doesn't sound like a "crash"
The total rig count in the US fell by 10 to 566 rigs
Posted on 5/23/25 at 4:04 pm to crewdepoo
The price of Brent crude is $61 a barrel today. Can’t make big profits off of that. I wonder if the supply is going up or demand is falling worldwide?
Posted on 5/23/25 at 4:14 pm to ragincajun03
Wait I thought rig counts were going to the moon with Trump and Landry in office. I guess they just press the button any day now and we all gonna be painted on the walls of LaFonda's before you know it. MAGA!
Posted on 5/23/25 at 4:21 pm to ragincajun03
I thought this was about semis ....sorry
Posted on 5/23/25 at 4:23 pm to Baers Foot
quote:
LaFonda's
About to have to close and go out of business based on this news.
However, on the positive side, as El Gaucho would agree with, the air does smell much cleaner this week.
Posted on 5/23/25 at 4:24 pm to Baers Foot
So, we are upset at the lower gas prices?
Posted on 5/23/25 at 4:27 pm to Cycledude
quote:
if the supply is going up or demand is falling worldwide
Both.
Demand has shown little life in the last 12-18 months. Supply is off the charts.
Posted on 5/23/25 at 4:30 pm to TDTOM
quote:
So, we are upset at the lower gas prices
Personally I don't spend enough on gas for it to really matter.
Consider gas as a yearly purchase and not a weekly and see why low prices driven down the way they are is a bad thing.
You would be excited to know you can get a cheap Disney trip but would think twice if the reason the were available is because the economy is shite and no one can afford full price.
Posted on 5/23/25 at 4:48 pm to Jim Rockford
quote:
Pfft. OT ballers are in on the lithium bonanza.
I recently finished a lithium DLE project in Magnolia AR...does that make me an OT baller?
Posted on 5/23/25 at 4:49 pm to ragincajun03
Drill baby, drill! Or not.
Posted on 5/23/25 at 5:44 pm to Oilfieldbiology
quote:
Did you see the latest BIC report on refineries? Damn near every one lost money in 1Q25
Refineries aren't that profitable on a good year. They haven't made money on gasoline this year at all. They are making a little money on diesel, more money on base oil, and good money on petcoke.
Posted on 5/23/25 at 5:48 pm to Oilfieldbiology
FWIW, a biz friend in Marathon corporate recently told me that Garyville is making money thanks to Mars field. Even though it is not classed as heavy crude, it has a high residual content so works well for Garyville.
Refineries using tight shale crude aren't making money at all That shite is not so good in chemical makeup
Refineries using tight shale crude aren't making money at all That shite is not so good in chemical makeup
Posted on 5/23/25 at 6:31 pm to CitizenK
quote:
nd good money on petcoke
No one makes money on pet coke. No one.
Residual oils have been surprisingly high this yeah though. That is coming to an end though.
Posted on 5/23/25 at 8:12 pm to ragincajun03
Trump is destroying the economy
Posted on 5/23/25 at 8:53 pm to fightin tigers
quote:
Both. Demand has shown little life in the last 12-18 months. Supply is off the charts.
China’s economy not bouncing like predicted plus capacity in India and Africa coming in line this year is a bad combo
Posted on 5/23/25 at 11:21 pm to ragincajun03
Companies are bullish on LNG.
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