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U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday.
The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22, putting the total rig count down 134, or 18%, below this time last year.
The number of oil rigs fell by one to 509 this week, while gas rigs decreased by four to 112, their lowest level since mid-January 2022.
Most of those gas rig cuts were in the Haynesville shale gas field in Louisiana, Texas, and Arkansas, which fell by four to 36 rigs this week, the lowest since October 2020.
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BP has officially abandoned its 2030 target to significantly cut oil and gas production,...
By Bloomberg| Anthony Di Paola & Sherry Su | Saudi Arabia raised its main...
U.S. energy firms have reduced the number of oil and natural gas rigs for...
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Harold Hamm, the founder of Oklahoma based Continental Resources and a major figure in...
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