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OIL
US Oil, Gas Rig Count to see first rise in 6 weeks: Platts
The US oil and gas rig count increased by 5 to 715 in the week to Aug. 16, according to data analysis by Platts, the first gain in six weeks.
- The Permian and Williston Basins each gained rigs. The former was up by 3 to 332, while the latter rose by 7 to 35.
- Rigs in the Permian basin – the largest and busiest US basin – have fallen from the 350s in May.
- The Eagle Ford Shale and Utica Shale and DJ basin saw declines on the week.
- The latest Baker Hughes rig count data is due for release at 13:00ET.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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