Diamond Offshore Drilling Losses Continue More Than Expected

Deep Sea Driller Diamond Offshore Drilling reported worse than expected fourth quarter earnings before the market Monday. Revenue continues to be impacted as day rates for deep water drilling rigs fall. The world’s largest offshore drilling company Transocean $RIG report next week.  

Diamond Offshore Losses Continue as Drilling Revenue Plunges

Deep Sea Driller Diamond Offshore Drilling reported third quarter earnings before the market Monday. Revenue continues to be impacted as day rates for deep water drilling rigs fall. The world’s largest offshore drilling company Transocean $RIG reported stronger than expected earnings last week.

U.S. Oil Rig Count Steady With Record American Production

With U.S. production at record highs U.S. oil rigs held steady this week with WTI crude futures trading higher in a tight range. Natural gas rigs added one more as gas futures continued to slide. Driling activity lags pricing, how long it take drillers to respond to the changing prices?

Permian Continues To Add Oil Rigs as OPEC Comes and Goes

In a week where OPEC promised to extend production cuts for 2018 U.S. oil rigs rose with Permian rigs continuing to be addedBaker Hughes, a GE co. said. We will have to see if this is a trend back to increased driling activity and how long it takes drillers to respond to the higher prices.

Permian Continues To Add Oil Rigs Ahead of Next OPEC Meeting

U.S. oil rigs were flat this week after rising 9 last week, however Permian rigs continue to be added with 6 more this bast week Baker Hughes, a GE co. said. We will have to see if this is a trend back to increased driling activity and how long it takes drillers to respond to the higher prices.