Feb 24 - U.S. energy firms in February cut the most oil and natural gas rigs in a month since June 2020, with the gas rig count falling to the lowest since April, energy services firm Baker Hughes CoThe oil and gas rig count, an early indicator of future output, fell seven to 753 in the week to Feb. 24. , ,
Despite this week's rig decline, Baker Hughes said the total count was still up 103 rigs, or 15.8%, over this time last year.For the month, the total oil and gas rig count was down 18, falling for a third month in a row for the first time since July 2020. The oil rig count was down nine in February, while the gas rig count also fell nine in its biggest monthly drop since April 2020.
U.S. oil futures were down about 5.3% so far this year after gaining about 7% in 2022. U.S. gas futures , meanwhile, have plunged about 45% so far this year after rising about 20% last year.
Good job Brandon
RealestMercury Much ado about not much at all. Small O & G drilling rig fluctuations while completion wells are up.
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