U.S. oil drillers add rigs in Niobrara and Eagle Ford -Baker Hughes
Oil drillers added rigs in two U.S. shale basins this week, data showed on Friday, the strongest sign yet that higher crude prices are coaxing producers back to the well pad after a slump in activity of nearly six months.
Overall, U.S. drillers reduced the number of active rigs by just one this week, oil services company Baker Hughes Inc said. It was the 24th straight weekly decline, bringing the total down to 659, the lowest since August 2010.
In the latest week, drillers added three oil rigs in the Niobrara basin in Wyoming and Colorado and two in the Eagle Ford in South Texas, according to the closely followed report. That brought the total number of active rigs up to 22 in the Niobrara and 89 in the Eagle Ford.
The Eagle Ford is the nation’s second biggest shale oil field, while...
(go to article)
Submitted 41 minutes ago By: