The Daily Digger is dedicated to being your one-stop location to find all of the latest news and updates on the activity in the nationwide shale play, as well as relevant updates regarding the energy industry in general.
HOUSTON, April 8, 2015 /PRNewswire/ -- Baker Hughes Incorporated(NYSE: BHI) announced today that the international rig count for March 2015 was 1,251, down 24 from the 1,275 counted in February 2015, and down 94 from the 1,345 counted in March 2014. The international offshore rig count for March 2015 was 316, down 8 from the 324 counted in February 2015, and down 18 from the 334 counted in March 2014.
The average U.S. rig count for March 2015 was 1,110, down 238 from the 1,348 counted in February 2015, and down 693 from the 1,803 counted in March 2014. The average Canadian rig count for March 2015 was 196, down 167 from the 363 counted in February 2015, and down 253 from the 449 counted in March 2014.
The worldwide rig count for March 2015 was 2,557, down 429 from the 2,986 counted in February 2015, and down 1,040 from the 3,597 counted in March 2014.
March 2015 Rotary Rig Counts
About the Baker Hughes Rig Counts
The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States, Canada and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of US and Canadian drilling activity. Baker Hughes initiated the monthly international rig count in 1975.
North American rig count data is scheduled to be released at noon central time on the last working day of each week. The international rig count is scheduled to be released on the 5th working day of the month at 6:00 a.m. ET. Additional detailed information on the Baker Hughesrig counts is available from our website.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 62,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information about Baker Hughes, visit: www.bakerhughes.com.
Last week, American Energy Partners Inc. stated its plans to acquire three oil and natural gas producers. The deal is valued at almost $11 million and includes companies in western Pennsylvania and West Virginia. American Energy Partners said it would obtain all of the stock and units of the three undisclosed companies. CEO Brad Domitrovitsch says: “ This transaction furthers our commitment to acquiring steady cash-flowing businesses while enhancing our ability to develop alternative green energy opportunities with the vast amount of acreage included in the package.” The sale involves 467 wells currently yielding 1.25 Bcfe/d and midstream assets spread over 695 acres (includes 100% owned surface and mineral rights). Additionally, there are no drilling commitments or obligations for the properties. American Energy controls several subsidiaries, including: Oilfield Basics LLC Hickman Geological Consulting LLC American Energy Solutions LLC Hydration Company of PA Gilbert Oil and Gas T
Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money. That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector. The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest. The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividend on closing the deal while offering a quarterly variable div
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