Rig Counts Rise!

Baker Hughes reports U.S. rig count up 9 from last week to 296

Baker Hughes (BKR) reports the U.S. rig count is up nine from last week to 296 with oil rigs up 10 to 221, gas rigs down one to 72, and miscellaneous rigs unchanged at three.

Baker Hughes has been reporting weekly rig counts for more than 50 years

U.S. Rig Count is down 526 rigs from last year’s count of 822, with oil rigs down 470, gas rigs down 58 and miscellaneous rigs up two.

The U.S. offshore rig count is unchanged at 13, down nine year-over-year.

Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count

The Canada rig count is up three from last week to 86, with oil rigs down two to 40, gas rigs up five to 46.

Canada rig count is down 56 rigs from last year’s count of 142, with oil rigs down 53, gas rigs down three.

https://stockwinners.com
Rig Counts Rise – See Stockwinners.com Market Radar to read more

Brent crude is down $0.37 to $37.89 per barrel. West Texas Intermediate (WTI) crude is down $0.40 to $35.77 per barrel.

Gasoline last traded at $1.03 per gallon.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Rig Counts Rise!

Baker Hughes reports U.S. rig count up 3 to 269 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 3 from last week to 269.  That is down 587 units from the 856 rigs working this time a year ago.

The international offshore rig count for April 2018 was 194. Stockwinners

The number of rigs drilling on land was up 3 week-over-week with a total of 254 units. The number of rigs drilling in inland waters was unchanged at 1 unit for the week. The number of rigs drilling offshore was unchanged at 14.

Baker Hughes publishes rig data weekly

US oil rigs increased by 4 from last week to reach 193 units compared to 712 a year ago. Rigs targeting gas decreased by one unit to reach 73 rigs, 70 fewer than were drilling for gas at this time a year ago.

Brent crude is down $0.52 to $42.82 per barrel. West Texas Intermediate (WTI) crude is down $0.56 to $40.63 per barrel.

Gasoline last traded at $1.20 per gallon down three cents.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Rig counts unchanged last week!

Baker Hughes reports U.S. rig count unchanged at 254 rigs

Baker Hughes (BKR) reports that the U.S. rig count is unchanged from last week at 254 with oil rigs down 3 to 180, gas rigs up 3 to 72, and miscellaneous rigs unchanged at 2.

The U.S. Rig Count is down 650 rigs from last year’s count of 904, with oil rigs down 562, gas rigs down 90, and miscellaneous rigs unchanged at 2.

The U.S. Offshore Rig Count is unchanged at 13 and down 13 year-over-year.

https://stockwinners.com
Rig Counts unchanged- See Stockwinners.com Market Radar to read more

The Canada Rig Count is down 2 rigs from last week to 54, with oil rigs down 1 to 19, gas rigs down 1 to 35, and miscellaneous rigs unchanged at 0.

The international offshore rig count for April 2018 was 194. Stockwinners

The Canada Rig Count is down 96 rigs from last year’s count of 150, with oil rigs down 86, gas rigs down 10 and miscellaneous rigs unchanged at 0.

Brent crude is up 17 cents to $45.77 per barrel. West Texas Intermediate (WTI) crude is down 5 cents to $42.97 per barrel.

Gasoline last traded at $1.31 per gallon up three cents on the day.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Rig counts rise!

Baker Hughes reports U.S. rig count up 10 to 254 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 10 from last week at 254 with oil rigs up 11 to 183, gas rigs down 1 to 69, and miscellaneous rigs unchanged at 2.

Rig counts rose for the first time

The U.S. Rig Count is down 662 rigs from last year‘s count of 916, with oil rigs down 571, gas rigs down 93, and miscellaneous rigs unchanged at 2.

The U.S. Offshore Rig Count is unchanged at 13 and down 15 year-over-year.

The Canada Rig Count is up 2 rigs from last week to 56, with oil rigs up 1 to 20, gas rigs up 1 to 36, and miscellaneous rigs unchanged at 0.

The Canada Rig Count is down 83 rigs from last year’s count of 139, with oil rigs down 75, gas rigs down 8 and miscellaneous rigs unchanged at 0.

Brent crude is down 77 cents to $44.13 per barrel. West Texas Intermediate (WTI) crude is down 75 cents to $42.07 per barrel.

Gasoline last traded at $1.28 per gallon down a penny on the day.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

California Resources on the verge of bankruptcy!

The oil driller is preparing near-term bankruptcy filing, WSJ reports

California Resources Corporation (CRC) operates as an oil and natural gas exploration and production company in the State of California.

The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities. It holds interests in approximately 2.2 million net acres of mineral acreage. As of December 31, 2019, the company had net proved reserves of 644 million barrels of oil equivalent.

Interest Payment

California Resources skipped an interest payment to lenders and could file for bankruptcy as soon as next week, The Wall Street Journal’s Alexander Gladstone reports, citing people familiar with the matter.

The company said in an 8-K filing that it entered into forbearance agreements most of its lenders, who have agreed not to exercise “remedies” under the credit agreements. 

The oil driller said Monday it has entered into an agreement with a majority of its senior lenders to wait until Sunday before they can declare a default, the author notes.

2-Year price chart for CRC

The company has suffered from a sharp selloff in crude oil futures prices to start this year, as a result of the drop in demand from the COVID-19 pandemic and the price war between Saudia Arabia and Russia.

CRC is up 67 cents to $2.68.

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Rig Counts Collapse!

Baker Hughes reports U.S. rig count down 34 to 374 rigs

Baker Hughes (BKR) reports that the U.S. rig count is down 34 rigs from last week to 374, with oil rigs down 33 to 292, gas rigs down 1 to 80, and miscellaneous rigs unchanged at 2.

The international offshore rig count for April 2018 was 194. Stockwinners
The U.S. offshore rig count was 15.

The U.S. Rig Count is down 614 rigs from last year’s count of 988, with oil rigs down 513, gas rigs down 103, and miscellaneous rigs up 2 to 2.

https://stockwinners.com
Rig Counts Fall – See Stockwinners.com Market Radar to read more

The U.S. Offshore Rig Count is down 1 rig from last week to 15 and down 5 year-over-year.

The Canada Rig Count is down 1 rig from last week to 26, with oil rigs unchanged at 7 and gas rigs down 1 to 19.

WTI in 2020 has traded widely, Stockwinners

The Canada Rig Count is down 37 rigs from last year’s count of 63, with oil rigs down 15 and gas rigs down 22.

Meanwhile WTI has traded in a wide range this year. Today the June contract is up 4.5% to $24.50 per barrel.

Brent crude for June delivery is up 4.8% to $30.85 per barrel.

A 70-year crude oil price chart in today’s dollar; Stockwinners

STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.