Connect with us

Business

Number of rigs decreases for the first time in two months

Avatar

Published

on


The number of US rigs fell for the first time in more than two months, a sign that the oil industry may recover from the pandemic more slowly than expected.

Energy companies operated 310 oil and gas platforms nationwide, down two from last week, according to Houston oil services firm Baker Hughes and energy research firm Enverus. There are 231 oil rigs, down five from last week; 76 natural gas platforms, three more than last week; and three maintenance platforms.

Drilling activity is back in the oilfield after the coronavirus pandemic crushed demand for crude in March and forced oil and gas companies to stop drilling. After crude prices rose above $ 40 a barrel, most oil and gas companies restarted production.

OIL DESCENT: COVID-19 oil bust turns once expensive land in West Texas into a bargain

The rig count, a leading indicator of the country’s oil and gas production, bottomed in August at 244 and had rebounded for the past nine weeks. Recovery should take time; the current number of platforms is far from the 803 platforms in service a year ago. Additionally, analysts say the recovery remains fragile as coronavirus cases continue to climb nationwide.

Texas lost one rig last week and has 144 rigs in service. The state is home to most of the Permian Basin, the country’s most productive shale game, and is home to about half of the country’s oil and gas platforms.

The Permian Basin, which stretches from West Texas to New Mexico, has 156 platforms, up two from last week; the Haynesville in east Texas has 40 rigs, three more than last week; and the Eagle Ford in South Texas has 20 platforms.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]