{"id":5086,"date":"2020-07-22T04:03:14","date_gmt":"2020-07-22T04:03:14","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=5086"},"modified":"2020-07-22T04:03:14","modified_gmt":"2020-07-22T04:03:14","slug":"us-shale-explorers-park-more-drilling-rigs-as-rebound-stalls","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=5086","title":{"rendered":"US shale explorers park more drilling rigs as rebound stalls"},"content":{"rendered":"<div class=\"subtitel col-lg-12\">\n<p>13Bloomberg\/Houston<\/p>\n<\/div>\n<p>Shale explorers parked more rigs last week as oil\u2019s rebound proves insufficient to boost drilling work from the lowest level in more than a decade.<br \/>\nThe number of active oil rigs in the US fell by four to 181, the least since June 2009, according to Baker Hughes Co data released on Friday.<br \/>\nWith crude still well below its pre-pandemic peak earlier this year, producers are focusing on wells that were already drilled and waiting to be fracked as a cheaper alternative for adding production.<br \/>\n\u201cDeclines in drilling activity have continued, though at a decelerating rate in the latter half of\u201d the second quarter, Connor Lynagh, an analyst at Morgan Stanley, wrote last week in a note to investors. But, as activity appears to stabilise, the \u201crecovery path remains a key debate.\u201d<br \/>\nWorldwide lockdowns to prevent the spread of Covid-19 had a devastating impact on crude demand at a time when shale explorers were already struggling with too much debt and shareholders were urging them to spend less. While benchmark US oil futures have roughly doubled to $40 a barrel since the start of May, prices are still down by more than 30% for the year.<br \/>\nThe rig count is a closely watched metric because it\u2019s long been considered indicative of future crude production. The relationship is imperfect, however, because of the time lag between drilling a well and commencing production, as well as other factors such as the turning off of existing wells in response to price movements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>13Bloomberg\/Houston Shale explorers parked more rigs last week as oil\u2019s rebound proves insufficient to boost drilling work from the lowest level in more than a decade. The number of active oil rigs&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5089,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[46,48,57,68,76,77,82,86,87,90,96,99,103,107,109,111,113,137,139,146,148,160,174,183,184,201,202,209,222,230,232,233,244,246,249,256,262,263,267,277,279,280,285,288],"class_list":["post-5086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-aramco","tag-athens","tag-baroudi","tag-carbon","tag-climate","tag-climate-change","tag-co2","tag-cyprus","tag-decarbonising","tag-democracy","tag-doha","tag-eastmed","tag-egypt","tag-embargo","tag-emissions","tag-energy","tag-energy-peace","tag-gas","tag-gazprom","tag-greece","tag-greenenergy","tag-international-maritime-disputes","tag-lebanon","tag-maritime-boundaries-east-mediterranean","tag-maritime-disputes","tag-offshore","tag-oil","tag-opec","tag-pollution","tag-poverty-alleviation","tag-putin","tag-qatar","tag-rosneft","tag-roudi","tag-russia","tag-saudi","tag-solar","tag-solar-power","tag-straddling-hydrocarbons-reserves","tag-total","tag-trump","tag-turkey","tag-unclos","tag-usa"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/5086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5086"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/5086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/5089"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}