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  1. BHI: US rig count up 5 to 511

    The overall US drilling rig count gained 5 units to 511 rigs working during the week ended Sept. 23, according to Baker Hughes Inc . data. Three gas-directed and 2 oil-directed units began operations. Up in 14 of the last 17 weeks, the overall count has now added 107 units since the week ended May 27. Compared with the week ended Dec. 5, 2014, after which began a steep dive in US drilling activity, the count is still down 1,409 units. The recent drilling rebound has been characterized by steady increases devoid of major rig and equipment constraints. With the overall count expected to continue to rise over the next 2 years, however, analysts at financial services firm Raymond James & Associates Inc. foresee “meaningful bottlenecks” emerging due to low spending on oil field infrastructure during the downturn. The primary culprit is expected to the beleaguered pressure pumping industry, whose readily workable US frac fleet is forecast to be down 35-50% by 2017 compared with 2014 levels, the analysts said in an industry brief this week. Some 3-4 million hp has been removed permanently during the downturn while another 3-4 million hp will require major investment to be refurbished into working condition. “With modest attrition on the nearly 2,000 rigs running in 2014, the market should be able to supply additional drilling rigs—of varying qualities—beyond 1,000 active rigs,” they said. “The problem will be, if wells cannot be completed, why drill them?” RJA believes the industry’s initial bottleneck point will be reached next year at 800 rigs working. The average overall US rig count for 2017 is also expected at 800 units, rising to 1,100 in 2018, even though the firm projects industry cash flows will likely justify higher counts. Oil-rig streak holds steady US oil-directed rigs have now risen in 15 of the last 17 weeks, adding 102 units over that time to total 418 rigs working, down 1,191 units since their peak on Oct. 10, 2014. Gas-directed rigs now total 92, and have stayed within a range of 81-97 units since the beginning of March. The overall increase comprised onshore units, which are up 6 to 488. Rigs engaged in horizontal drilling gained 8 units to 402, a rise of 88 units since May 27 but down 970 since their peak on Nov. 21, 2014. Directional drilling rigs edged up a unit to 49. Several of the major oil-and gas-producing states made either a modest increase or modest decrease. Texas and Oklahoma led the way in increases, each gaining 2 units to 246 and 67, respectively. Texas is now up 65 units since May 13 but down 712 since a peak on Aug. 29, 2008. The Cana Woodford and Mississippian each added a unit to hit respective totals of 33 and 3. The Eagle Ford also was down a unit, settling at 37. Down 1 unit to 201, the Permian declined for just the second time in 19 weeks. In news of yet another firm banking on the West Texas and southeastern New Mexico basin, Calgary-based Encana Corp. this week completed a public offering to raise $1 billion, a portion of which will go toward boosting its Permian rig count and doubling its number of producing wells in the play during 2017 vs. the 2016 total. North Dakota, Pennsylvania, Alaska, and California each rose a unit to 28, 22, 6, and 6, respectively. As with its home state, the Williston was up 1 to 28, while the Marcellus also increased a unit to reach 30. Louisiana, New Mexico, and West Virginia each lost a unit to respective totals of 40, 27, and 9. One rig drilling in inland waters was idled, bringing that tally to 3. The tally of active offshore rigs was static at 20. Canada topped the US with a 6-rig rise to 138, up 102 units since May 6. Gas-directed units increased by 5 to 61 while oil-directed units gained 2 to 77, up 69 units since Apr. 8. The country’s only unclassified rigs halted operations this week. Contact Matt Zborowski at matthewz@ogjonline.com .

    Online Articles

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    Fri, 23 Sep 2016

  2. Ameren Illinois Stepping Up Grid Improvements

    The Illinois Commerce Commission on Friday approved  Ameren Illinois’  plans to accelerate upgrades to its electric grid, an effort that has already resulted in more than 235,300 fewer outages and saved customers an estimated $46 million each year.  

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    Fri, 23 Sep 2016

  3. A 'green revolution' built on efficiency

    Power for All interviews Michael Leibreich, clean energy visionary and founder of Bloomberg New Energy Finance, on the future of decentralized renewables. 

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    Fri, 16 Sep 2016

  4. Construction equipment: Terex customers and dealers receive hands on training at 38th annual event

    Utility vehicles: More than 30 people from five countries attended Terex Utilities’ 38th annual Hands On Training seminar, which included demonstrations of aerial lifts, digger derricks and auger drills.

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    Mon, 12 Sep 2016

  1. US$50 million invested in Vietnam hydropower firm

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    Thu, 1 Sep 2016

  2. Utility supplies: Mobile performance management software

    Utility equipment: NetMotion Wireless continues utility market growth with The Carlyle Group acquisition. Mobile performance management software manages, optimizes, accelerates, and secures all traffic to mobile devices across any network, application or operating system.

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    Tue, 16 Aug 2016

  3. MARKET WATCH: Crude prices dive on results of Brexit vote

    Losses sustained by crude oil prices on June 24 as the London and New York markets reacted to Britain’s vote to leave the European Union continued on June 27 amid feelings of uncertainty about Europe’s economic future.

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    Mon, 27 Jun 2016

  4. Siemens to supply 141 turbines for wind power plant in New Mexico, Texas

    Broadview Wind project with a combined capacity of 324 MW

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    Fri, 8 Jul 2016

  5. IHS, Markit complete merger

    IHS Inc. and Markit Ltd. have completed their previously announced merger to form IHS Markit (Nasdaq: INFO), a provider of critical information, analytics and solutions

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    Wed, 13 Jul 2016

  6. BHI: US rig count climbs again as financial outlooks shift

    The overall US drilling rig count gained 7 units to 447 during the week ended July 15, according to data collected by Baker Hughes Inc. All but one of the units to come online were oil-directed.

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    Fri, 15 Jul 2016

  7. Line construction: Service technician training initiative launched by Genie

    Utility safety: Terex Aerial Work Platforms (AWP) is offering free enrollment to the Genie Tech Pro Online Service Training program to community colleges and 500 aspiring aerial lift technicians in North America.

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    Mon, 18 Jul 2016

  8. Energy management: Advanced battery chemistries expected to impact lithium ion’s market share

    Power management: Global energy capacity for next-generation advanced batteries is expected to reach 6.5 GWh annually in 2025, according to Navigant Research.

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    Wed, 27 Jul 2016

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