This page has been archived and commenting is disabled.
US Rig Count Decline Reaccelerates Back To Cycle Lows
Total US Rig Count dropped 6 this week to 857 - the lows of the cycle - after 3 weeks of very modest rises. Oil rig count also declined, after 2 weeks of increases, by 7 to 638. The initial move in prices was higher (as for now we are in topsy-turvy land for crude) but that is starting to fade.
- *U.S. TOTAL RIG COUNT DOWN 6 TO 857 , BAKER HUGHES SAYS
- *U.S. OIL RIG COUNT DOWN 7 TO 638, BAKER HUGHES SAYS
Rig count continues to track lagged crude perfectly...
Crude prices extended their gains immediately after but are fading back now...
Charts: Bloomberg
»
- 7123 reads
- Printer-friendly version
- Send to friend
- advertisements -
Counting the number of angels dancing on the head of a pin. Groovy....
Try counting the number pings on my router....
http://galeinnes.blogspot.com/2015/07/social-herds-economic-turds.html
7 Years into this fooking global depression and nobody gets it?
I must be surrounded by blooming idiots I swear!
Get a clue >> https://www.youtube.com/watch?v=90HUOD5b8EI
The fascist police state of the USA.
House Backs Monsanto and BANS GMO Labeling By: ActivistPostTags:
By Kristen Anderson
On Tuesday, US food companies and Monsanto sealed a critical victory as the House Agricultural Committee approved a measure that bans the mandatory labeling of genetically modified foods and prevents cities and counties from banning GMO crops within their jurisdictions...
Read more: WHAT REALLY HAPPENED | The History The US Government HOPES You Never Learn! http://whatreallyhappened.com/#ixzz3gActO4Jf
There is a simple response to that: Start growing your own. If you want to buy GMO seed, you have to jump through a lot of hoops because Monsanto and the like want tight control over their GMO seeds. Just look for open pollinated seeds and take away some of their business. Every ear of corn that you grow from heirloom seed is a seed that Monsanto doesn't sell.
Canadian rigs +23...wonder why nobody noticed...
U.S. 17 July 2015 857 -6 Canada 17 July 2015 192 +23****Yawn**** Unless crude drops below 40, most of the pain in the patch has been felt. I'm not worried about a loss of seven rigs at this point.
U.S. economy crashing. China slowdown. Iran coming on-line.
It might come damn close to 40 sooner than we can start a war with someone. Maybe we should attack Puerto Rico? We could both use the extra jobs.
Does seem like pretty thin gruel given the overall size of the oil market.
Tankers have been floating around for months with tens of millions of barrels looking for buyers apparently.
"Name your price."
Huge refinery for sale in the Caribbean been for sale for a couple of years now. Obviously to get it up and running would cost a ton of money...Banks are swimming in profits right now.
First thing I would buy.
Only couple of companies have gone bankrupt in the last 48 hours...unfortunately others were 4 weeks ago...
Houston-based Milagro Oil & Gas seeks bankruptcy protection
Billionaire William Macaulay Suffers Another Oil Setback with Sabine BankruptcyJune 2015:
Saratoga Resources seeks bankruptcy protection Hercules Offshore Solicits Votes for Prepackaged Bankruptcy1 went bankrupt in Calgary too last month...
Failed oilsands firm's assets to be sold on 'as-is-where-is' basisIt impacted LNG sector as well
Technip to fire 6,000 employees
coal sector was not to be left behind in the insolvency process....
Coal miner Walter Energy files for bankruptcyOil pipe makers are going down as well.
REFILE-Boomerang Tube files for Chapter 11 bankruptcy protectionBusiness is doing so well in US, as Obama says....that one of the largest oil loading companies in North Dakota is laying off 10 oercent of their staff...
North Dakota oil-loading hub lays off 10 percent of staff – source Job cuts are starting up in the thousands in Scotland too. Oil price slump sees 5,000 jobs cutThe major fracking companies (APA,APC,CHK) are now trying to lose as much money as possible,as fast as possible,so they become "too big to fail frackers",and can count on a bailout from the Fed..
Sorry Canada, Algos don't read your news.
U.S. 17 July 2015 857 -6 Canada 17 July 2015 192 +23I have reduced my home heating oil consumption to zero, my propane to zero and my transportation petroleum by 50%
My punishment? I now have to spend more time out in Nature and have to endure being aerobically fitter, physically stronger and am healthier than ever.
As someone who has been in or around the oilfield most of his life, I have no sympathy for company's going bankrupt since everyone knows, or should know, that a job that is here today is gone tomorrow. That's the history of the oilfield. The operators that were conservative in the good times are doing ok now, not great but they will survive. However I know of one drilling outfit that could not make money last year and was already under water, its over for these guys. I also have a friend of mine that is about to declare bankruptsy, in the good times he lived high on the hog and now he might have to mow grass for a living and still loose his house. When he told me of his situation, I wanted to kick him in the balls for being a retard, but he has made his bed and now he gets to sleep in it. Luckly I still have my job and the important things are payed off and I could shovel horse shit for a living and still have my quality of life. You have to be smarter than the fuckers that are running the show. Regards-
This ponzi has gone on for 9 years where is the positive cash flow? When was there ever real profits? Oh that's right we are the bank's, government and corporation's cash machine... we will just pay for it later.
Enjoy the "cheap" gas, last time I looked the industry was 80 billion in debt. Translation.. that gas aint cheap you just haven't heard the scream yet.