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LATEST INDUSTRY STATISTICS
USA Rig Count (by Baker Hughes)
  • The US Rig Count for last week was 975 UP 29 from the prior week of 946 and a year ago was 741
  • Drilling for Oil 791 prior week 765 year ago 591
  • Drilling for Natural Gas 184 prior week 181, year ago 149
  • The Rocky Mountain Rig Count for last week was 123 prior week total was 116 a year ago was 87
  • The Appalachian Region Rig Count for last week was 81 prior week total was 81, a year ago was 63
  • South Texas Region (w/ Eagle Ford Shale) Rig Count for last week was 75 prior week total was 78, a year ago was 70

Rig Count _USA_ - Weekly Last 24 Months
Rig Count _USA_ - Monthly Average

Offshore Utilization Rate
  • (IHS-Petrodata) The offshore rig marketed utilization rate in the US Gulf of Mexico last week was 66.7% prior week was 63.0%, year ago was 70.2%
  • Gulf of Mexico: Total Supply 92 Marketed Supply 54, Marketed Contracted 36
  • The offshore rig marketed utilization rate Worldwide last week was 72.0% prior week was 71.6%, year ago was 68.1%
  • Worldwide: Total Supply 799 Marketed Supply 665, Marketed Contracted 479
Worldwide Offshore Rig count and Utilization
(Click image to enlarge)
Drilling Permits
  • (RigData) Total drilling permits filed in the USA in January was 3,914 permits, prior month total was 3,996, same month year ago was 2,827
  • Tracking Prior 12 months > December 4,983, November 3,996, October 3,929, September 4,802, August 3.409, July 3,420, June 4,441, May 3,247, April 2,757, March 4,025, February 3,281, January 2,596
  • Year-to-date > December 2017 = 44,886, December 2016 = 28,323, December 2015 = 44,883, December 2014 = 76,393, December 2013 = 69,708
  • Year-by-year > 2010 = 66,013, 2011 = 70,251, 2012 = 69,408, 2013 = 69,708, 2014 = 74,615, 2015 = 44,883, 2016 = 28,323, 
    2017 = 44,886
Drilling Permits - USA
Natural Gas
(Bloomberg News) Ended week at $2.61 prior week ended at $2.84 year ago was $2.98

Natural Gas Prices - Last 24 mos
(Click image to enlarge)
Natural Gas Prices - Annual

Crude Oil                                                                                                                                     
(Bloomberg News) Ended week at $59.05 prior week ended at $65.45 year ago was $53.80

Crude Oil Prices - Last 24 months
Crude Oil Prices - Annual
                                            
AAA Daily Fuel Gauge Report


Current
Prior Week
Last Year
National Avg
$2.59
$2.60
$2.28

Texas
 $2.34
$2.37
$2.09

New York
$2.77
$2.77
$2.48

California
$3.35
$3.33
$2.85


Steel Output - USA
  • (AISI) Steel Output for the USA Year to date is 8,269,000 tons, Year ago to date was 8,447,000 tons.
  • Capability Utilization Year to date is 73.0%, compared to Year Ago to date of 74.6%.


Scrap Iron Consumer Buying Price - Chicago #1 Busheling

  • (Steel Markets) Current price $375/ton as of 02-05-18 , UP f rom $365/ton as of 01-08-18

     

HEADLINES OF INTEREST FROM THE OIL PATCH
 
The U.S. government sees nationwide oil production jumping above 11 million barrels a day much quicker than anticipated. After oil output already topped 10 million barrels a day back in November, output will climb above the 11 million mark this November, the Energy Information Administration said in its monthly Short-Term Energy Outlook on Tuesday. [...]  


More HEADLINES



MONTHLY PIPE & STEEL MARKET ANALYSIS & INSIGHTS 
Pipe Logix Line Pipe Report
Jan 2018
Preston Pipe Report - The Line Pipe Market
Jan 2018
Zekelman Industries Steel Snapshot
Jan 2018
AISI - Press Release on Latest U.S. Imports of Steel Products
Jan 2018
INDUSTRY GET TOGETHERS 

NASPD (National Association of Steel Pipe Distributors) 
Annual Convention - February 15th - 17th, 2018
The NASPD 2018 Annual Convention will be held February 15th - 17th at The Westin Galleria Houston, 5060 W Alabama Street, Houston, Texas 77056
For details on the program speakers, attendees, or to register to attend, check out the web site at  www.naspd.com  
Speakers Presentations and attendee listing from the recently held NASPD Fall Conference in Philadelphia, Pennsylvania > http://www.naspd.com
 
NAPCA (National Association of Pipe Coating Applicators)  
54th Annual Convention  April 2018
The NAPCA Annual Convention will be held April 18th - 21st, 2018 at the Westin La Paloma Resort & Spa, Tucson, Arizona
For details on the program speakers, attendees, or to register to attend, check out the web site at www.napca.com  

Preston Publishing Co / World Steel Dynamics OCTG & Line Pipe Forecasting Conference
Second Annual Forecasting Conference is scheduled for Thursday, September 27, 2018 at the Hilton Houston Post Oak


NATURAL GAS & CRUDE OIL WEEKLY UPDATE
In the News (EIA):   U.S. natural gas prices to remain low despite increasing exports, according to AEO2018: EIA's Annual Energy Outlook 2018 (AEO2018), released on February 6, projects U.S. dry natural gas production to generally increase through 2050 in all cases. In the Reference case, production over the projection period (2018-2050) is expected to [...] 

ECONOMIC MONTHLY SUMMARIES 
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Phone: (713) 934-9480 Fax: (713) 934-9490 
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API LINE PIPE  2" - 24" IN STOCK, BARE AND COATED READY TO SHIP...
API 5L GRADE B - X70, ERW & SEAMLESS, PSL1 AND PSL2, DOMESTIC AND IMPORT
This publication is compiled from various sources (as credited above) and presented in a single publication to our Friends In The Oil Patch as a customer service and for informational purposes only. 
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