Domestic oil drilling and refining up

2lion70

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
 

BW Lion

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
Did you expect otherwise?
 
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lurkerlion

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Shutting down production can happen quickly and did when Biden declared war on fossil fuels on Day 1. Ramping back up takes awhile because rigs are mothballed and people are laid off.

During the interim we all get to pay double for gas. Whether this foreshadows the future as the war on fossil fuels continues is the bigger question.
 

PaoliLion

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Shutting down production can happen quickly and did when Biden declared war on fossil fuels on Day 1. Ramping back up takes awhile because rigs are mothballed and people are laid off.

During the interim we all get to pay double for gas. Whether this foreshadows the future as the war on fossil fuels continues is the bigger question.

Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
 
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junior1

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
Wait a second...didn't Biden just tell us that oil companies weren't drilling more because they made more money with less oil and higher prices?
Are we now saying that higher supply will yield lower prices?
It's hard to keep up with all these economic theory changes
 

bdgan

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
Thar can't be true. Your side insists that oil companies make more money by not drilling.
 

lurkerlion

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Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
I will refrain from calling you names, but I do question whether McDonalds shorted you on French fries.

Rig counts went down due to Covid and low prices under Trump. Biden came and declared war on fossil fuels. Transitory and predictable cycles in drilling suddenly came to appear permanent on the low side. Roadblocks to production became more numerous and solutions more expensive (for example pipelines). Companies chose to be more conservative in ramping up instead of aggressive movement like they have done in past cycles. Other factors are involved but let’s keep it simple.

Regardless, it is much easier to shut the spigot than turn it on. Then after you turn it on it takes awhile to catch up and make a difference. Biden‘s actions amplified and extended the Covid effects on production and refining. He chooses to deny that fact and blame everyone else and now seeks to have the pariah states of the world save his butt.
 

2lion70

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Shutting down production can happen quickly and did when Biden declared war on fossil fuels on Day 1. Ramping back up takes awhile because rigs are mothballed and people are laid off.

During the interim we all get to pay double for gas. Whether this foreshadows the future as the war on fossil fuels continues is the bigger question.
The big shut down took place in the early days of the pandemic. The price of WTI crude went to $0.00 and producers even went so far as to offer to pay for someone to store their crude. Production is now back to those pre-pandemic levels and OPEC+ has been saying they will increase their production in both July and August.
 

2lion70

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Jul 1, 2004
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Shutting down production can happen quickly and did when Biden declared war on fossil fuels on Day 1. Ramping back up takes awhile because rigs are mothballed and people are laid off.

During the interim we all get to pay double for gas. Whether this foreshadows the future as the war on fossil fuels continues is the bigger question.
I just bought gas for $4.09 9/10 today here in SE NC.
 

PaoliLion

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I will refrain from calling you names, but I do question whether McDonalds shorted you on French fries.

Rig counts went down due to Covid and low prices under Trump. Biden came and declared war on fossil fuels. Transitory and predictable cycles in drilling suddenly came to appear permanent on the low side. Roadblocks to production became more numerous and solutions more expensive (for example pipelines). Companies chose to be more conservative in ramping up instead of aggressive movement like they have done in past cycles. Other factors are involved but let’s keep it simple.

Regardless, it is much easier to shut the spigot than turn it on. Then after you turn it on it takes awhile to catch up and make a difference. Biden‘s actions amplified and extended the Covid effects on production and refining. He chooses to deny that fact and blame everyone else and now seeks to have the pariah states of the world save his butt.

Fvck your stupid and misInformed. Maybe “disinformed”

The rig count was 374 when Biden took office (lowest in history) and, by the end of his first year, it was 601. You’re right that the ramp-up is slower than the ramp down, but fvck you for spouting political nonsense.
 
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Hotshoe

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Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
Did you know, rig counts mean nothing. The only idiot here is you. Nationalized oil from WWII! Fking idiot. A strike is nationalization! Go crawl back into your hole, CEO. Lmao. FRAUD!
 
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WPTLION

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
The oil execs already said the were all but at 100% capacity
 
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jferretti

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I will refrain from calling you names, but I do question whether McDonalds shorted you on French fries.

Rig counts went down due to Covid and low prices under Trump. Biden came and declared war on fossil fuels. Transitory and predictable cycles in drilling suddenly came to appear permanent on the low side. Roadblocks to production became more numerous and solutions more expensive (for example pipelines). Companies chose to be more conservative in ramping up instead of aggressive movement like they have done in past cycles. Other factors are involved but let’s keep it simple.

Regardless, it is much easier to shut the spigot than turn it on. Then after you turn it on it takes awhile to catch up and make a difference. Biden‘s actions amplified and extended the Covid effects on production and refining. He chooses to deny that fact and blame everyone else and now seeks to have the pariah states of the world save his butt.
Take a look at domestic oil production rates in 2019 compared to today. Approximately the same amounts
 

PaoliLion

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Did you know, rig counts mean nothing. The only idiot here is you. Nationalized oil from WWII! Fking idiot. A strike is nationalization! Go crawl back into your hole, CEO. Lmao. FRAUD!

Yup, they just put those rigs in the ground for the hell of it. You clearly were kicked in the head by a horse. Jeebus

And you wonder why I call you a dumb hillbilly
 

The Spin Meister

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An altered state
The big shut down took place in the early days of the pandemic. The price of WTI crude went to $0.00 and producers even went so far as to offer to pay for someone to store their crude. Production is now back to those pre-pandemic levels and OPEC+ has been saying they will increase their production in both July and August.
What is truly sad is that you believe the foolishness you post.

That zero price .....was actually negative for a short time......was because of future players got stuck holding massive contracts for oil for which they had no facilities to take the orders. They were forced to unload those contracts and lost huge monies.
 
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Hotshoe

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Yup, they just put those rigs in the ground for the hell of it. You clearly were kicked in the head by a horse. Jeebus

And you wonder why I call you a dumb hillbilly
You're dumb enough to believe all rigs pump oil. The same moron that stated the U.S. Government nationalized the oil industry in WWII. They never did. You're nothing but a fraud. Nothing about you is honest.
 

Hotshoe

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Yup, they just put those rigs in the ground for the hell of it. You clearly were kicked in the head by a horse. Jeebus

And you wonder why I call you a dumb hillbilly
Why don't you tell everyone where you're from. Where you went to college, what you do for a living. Until then, you're nothing but a pos liar. Own your sh&t.
 
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lurkerlion

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Fvck your stupid and misInformed. Maybe “disinformed”

The rig count was 374 when Biden took office (lowest in history) and, by the end of his first year, it was 601. You’re right that the ramp-up is slower than the ramp down, but fvck you for spouting political nonsense.
How many pipelines were completed or even proposed since Biden took office? How many refineries were built or expanded? How long between getting a permit and completing a well? In PA I have heard that permitting itself can take between 1 month to 1 year depending on which office you file the application.

Please view the big picture before you label something nonsense.
 
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BW Lion

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Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
I would imagine that your multi-abortioned wife is really upset about the recent SCOTUS decision.

She can’t claim “her body” as a logical defense…she elected to engaged in multiple instances of unprotected sex perhaps even with you.
 

PaoliLion

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I would imagine that your multi-abortioned wife is really upset about the recent SCOTUS decision.

She can’t claim “her body” as a logical defense…she elected to engaged in multiple instances of unprotected sex perhaps even with you.

1 in 4 American women have had an abortion
 

lurkerlion

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Thousands of workers hit the streets when Keystone was killed.
I’m not sure what you mean. I assume you think all those workers will be available again. Many will not because they go to other industries. Their expertise is lost and it takes awhile to replace. Again, closing the spigot is quick but it takes time to open it back up.
 

DJ Spanky

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I’m not sure what you mean. I assume you think all those workers will be available again. Many will not because they go to other industries. Their expertise is lost and it takes awhile to replace. Again, closing the spigot is quick but it takes time to open it back up.

I was agreeing with you. Shutting down Keystone was just one of the actions by the Biden Administration which closed off segments of the industry. That had a domino effect as whole boom towns had sprung up based off of Keystone and off of the oil shale industry. As you said, those workers are lost and have moved on: it will take time to build up the employment base and expertise to get things going again.
 
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Petch

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Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
Then why were we a net exporter under Trump and paying $5.25 a gallon under Biden?

You’re so stupid that being called stupid by you is a compliment.
 
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pawrestlersintn

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Did you know that the rig counts are twice as high as they were when Trump was removed from office?

You’re stupid
Does increasing the supply, which will reduce the price, or reducing the supply, which will increase the price, make the oil companies greedy? So you want your cake...
 

The Spin Meister

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Um yeah. We have been told repeatedly about how Biden has stopped all oil drilling.
No, we haven’t. He has proudly stopped all off shore leasing and leasing on all federal lands. Fortunately for the country and the world private lands are still accessible to oil and gas companies. So the industry is doing its job in spite of Magoo’s handlers best efforts.
 
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PaoliLion

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Then why were we a net exporter under Trump and paying $5.25 a gallon under Biden?

You’re so stupid that being called stupid by you is a compliment.

Oil demand was lower than supply, now it’s higher than supply. Oil traders are also taking advantage of the volatility. Uncertainty + volatility are expensive to consumers.

It doesn’t matter if we’re a net exporter, our oil prices are determined by international supply + demand.
 
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GSPMax

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The rig count was 374 when Biden took office (lowest in history) and, by the end of his first year, it was 601. You’re right that the ramp-up is slower than the ramp down, but fvck you for spouting political nonsense.

So, if you want to play the rig count game, let's play.

6 March 2020 the rig count was 793 just as the pandemic shutdowns started happening.

9 November 2018 the rig count was 1,081. Down from record highs during Obama reign, wonder why that was? (Rhetorical question).

24 June 2022 the rig count was 753, nearly 1 1/2 years after Brandon took office and reopening economy.

Looks like Biden has a way to go to match performance during the Trump years.

Interesting how the Biden and his sycophants use the pandemic/Putin/rig counts to make excuses for their ineptitude when it suits their needs (gas prices/inflation) but not when it disrupts their narrative.
 
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The Spin Meister

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Seems the high price of crude is having an impact on the oil/gas companies.

Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks​

Myra P. Saefong - Yesterday 1:11 PM




Baker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
© MarketwatchBaker Hughes reports the biggest U.S. oil-drilling rig count increase in 5 weeks
MARKET PULSE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.

Related video: Oil refineries ramp up processing activity to highest levels since pandemic began
Don’t know who is right but the federal government agency EIA states total rig count is much lower. Weird that the government quotes Baker Hughes as their source but has very different numbers. Perhaps the difference is horizontal rigs vs standard rigs but that is not defined in either report.


  • Rigs: According to Baker Hughes, for the week ending Tuesday, June 14, the natural gas rig count increased by 3 rigs from a week ago to 154 rigs. The Haynesville added one rig, and two rigs were added in unspecified producing regions. The number of oil-directed rigs increased by 4 rigs to 584 rigs. The Cana Woodford added two rigs, the Ardmore Woodford, the Eagle Ford, and an unspecified producing region each added one rig, and one rig was dropped in the Granite Wash. The total rig count now stands at 740, the highest level since March 20, 2020, and 270 rigs more than the same week last year.
 

2lion70

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What is truly sad is that you believe the foolishness you post.

That zero price .....was actually negative for a short time......was because of future players got stuck holding massive contracts for oil for which they had no facilities to take the orders. They were forced to unload those contracts and lost huge monies.
Demand for oil & gas dropped like a lead balloon when the world economy shut down due to COVID 19. It stayed shut for over a year. There were a lot of small domestic oil companies that went bankrupt at that time.
a $0.00 oil price is not good for any energy company. Rigs going into production just shows oil/gas companies are seeing very high demand and are ramping up production.
 

The Spin Meister

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An altered state
Demand for oil & gas dropped like a lead balloon when the world economy shut down due to COVID 19. It stayed shut for over a year. There were a lot of small domestic oil companies that went bankrupt at that time.
a $0.00 oil price is not good for any energy company. Rigs going into production just shows oil/gas companies are seeing very high demand and are ramping up production.
Again, the zero price was just for a day or two at the end of a month when speculators/futures players got stuck with contracts they couldn’t unload. Had very little to do with real world supply/demand issues.....other than the big boys gettin caught with their pants down.
 

2lion70

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Don’t know who is right but the federal government agency EIA states total rig count is much lower. Weird that the government quotes Baker Hughes as their source but has very different numbers. Perhaps the difference is horizontal rigs vs standard rigs but that is not defined in either report.


  • Rigs: According to Baker Hughes, for the week ending Tuesday, June 14, the natural gas rig count increased by 3 rigs from a week ago to 154 rigs. The Haynesville added one rig, and two rigs were added in unspecified producing regions. The number of oil-directed rigs increased by 4 rigs to 584 rigs. The Cana Woodford added two rigs, the Ardmore Woodford, the Eagle Ford, and an unspecified producing region each added one rig, and one rig was dropped in the Granite Wash. The total rig count now stands at 740, the highest level since March 20, 2020, and 270 rigs more than the same week last year.
The EIA report dated 6/24/22 concerns excess capacity, both OPEC and other. The big decrease in excess capacity is due to the Russian production being removed.
 

PaoliLion

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So, if you want to play the rig count game, let's play.

6 March 2020 the rig count was 793 just as the pandemic shutdowns started happening.

9 November 2018 the rig count was 1,081. Down from record highs during Obama reign, wonder why that was? (Rhetorical question).

24 June 2022 the rig count was 753, nearly 1 1/2 years after Brandon took office and reopening economy.

Looks like Biden has a way to go to match performance during the Trump years.

Interesting how the Biden and his sycophants use the pandemic/Putin/rig counts to make excuses for their ineptitude when it suits their needs (gas prices/inflation) but not when it disrupts their narrative.

It’s funny that you degenerates think that manipulating a few numbers is “clever”


The first thing that you’ll see about these numbers is that (1) since the COVID crash, there’s been a consistent + unabated rise of active oil rigs - so, for all of you idiots claiming “biden slowed oil production…investment, etc.”, get a life, (2) Trump wasn’t exactly doing much for oil investment (only stupid people think the president has much control over oil production)