The US and Brent crude oil benchmarks swung between gains and losses in early trading on June 6 on concerns about a continuing dispute in the Middle East. Analysts were uncertain how the rift might influence regional transportation of oil supplies. Source: News

Trends signaling a rig market recovery have emerged this year. Rig contracting activity and utilization are up, asset values are up, and first-quarter crude oil benchmark prices held relatively stable. Source: News

The weekly US rig count grew repeatedly by double-digits through April, with Baker Hughes Inc. attributing most of the drilling gains to onshore plays while the US offshore rig count remained flat. Source: News

Onshore development and drilling activity ramped up in the US Lower 48 states (L48) during the first quarter, prompting the beginnings of service-cost inflation that could reach 15%, including margin recapture in 2017. Source: News

Mesopotamian basin exploration in Iraq has opened 73 oil fields since the late 1920s. Most fields are in the northern and southern parts of the basin, but several lie in western Iraq. Source: News

Baker Hughes Inc. and General Electric Co. have appointed leadership for BHI that will take effect on closing of its proposed combination with GE’s oil and gas business. Source: News

The National Marine Fisheries Service (NMFS) proposed issuing five incidental take authorizations (ITA) to offshore geophysical contractors so they can conduct seismic surveys along the US South and Mid-Atlantic Outer Continental Shelf. Comments will be taken until July 6, the National Oceanic & Atmospheric Administration division said in a notice scheduled to be published in […]

Geoff Moody has been elevated to American Fuel & Petrochemical Manufacturers’ vice-president, government relations. Source: News