About Fewer rigs drilling with expensive
As of July 2025, only 539 active rigs remain, down 8 from the prior week and 46 year-over-year—a stark contrast to the 780 rigs seen in 2022. This decline, driven by capital discipline, price volatility, and a strategic pivot toward natural gas, poses both risks and opportunities for.
As of July 2025, only 539 active rigs remain, down 8 from the prior week and 46 year-over-year—a stark contrast to the 780 rigs seen in 2022. This decline, driven by capital discipline, price volatility, and a strategic pivot toward natural gas, poses both risks and opportunities for.
A key development is the increased length of drilling laterals in horizontal shale plays, allowing companies to drill more (i.e., access more acres of potential reserves) using fewer rigs. Historically, the number of drilling rigs has decreased significantly. For instance, in the early 1980s, over.
(Reuters) – Top U.S. oilfield services firms are facing weaker pricing and revenue this year as oil producers become increasingly efficient and keep a cap on spending, according to oilfield executives and analysts. Get the Latest US Focused Energy News Delivered to You! It's FREE: Quick Sign-Up.
Production increases were driven by efficiency, particularly in Texas and new drilling methods, offsetting a decrease in active drilling rigs. Oil and gas executives expect the number of rigs to stabilize, while the EIA projects continued production growth into the next year. Despite the falling.
count has fallen to its lowest level since early 2021, signaling a profound shift in the energy sector's trajectory. As of July 2025, only 539 active rigs remain, down 8 from the prior week and 46 year-over-year—a stark contrast to the 780 rigs seen in 2022. This decline, driven by capital.
Despite a decline in the number of rigs in the U.S., technological advances and improved efficiencies have kept production going, allowing companies to achieve more with fewer resources. The U.S. rig count has seen a significant decrease, dropping from approximately 780 rigs at the start of 2023 to.
Crude oil production in the U.S. Lower 48 (L48) states, which excludes Alaska and offshore production, reached a record 11.3 million barrels per day (b/d) in November 2024, according to our estimate in the latest Short-Term Energy Outlook (STEO) published on December 10. Crude oil production in the.
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