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Category: Plays

Oil Rigs Hit Record as Drillers Move Outside Big Basins

August 18, 2014 Posted by Chris Wysong

Domestic crude production has surged to its highest level in more than a quarter-century due to a record number of oil rigs being drilled outside major U.S. basins. In this article from Bloomberg, Lynn Doan and Richard Stubbe examine where drillers are seeking new oil plays and how that is benefitting U.S. oil production. Oil Rigs Hit Record as Drillers Move Outside Big Basins By: Lynn Doan and Richard Stubbe Rigs targeting oil in the U.S. surged to a record as drillers ventured outside the nations biggest basins to search for crude in developing plays such as the South-Central Oklahoma Oil Province, known as SCOOP. Oil rigs jumped by 15 to 1,588 this week, even as the counts in some of the most established basins, including the Permian of Texas and New Mexico, were either unchanged or down, data posted on Baker Hughes Inc. (BHI)s website show. It was the most since Baker Hughes separated the oil and gas rig counts in 1987. Rigs targeting crude outside the major plays jumped

Posted in Oil, Rigs, Drilling, Plays
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