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U.S. Rig Count is down 6 rigs from last week to 888, with oil rigs down 8 to 660, gas rigs up 2 to 223, and miscellaneous rigs unchanged at 5.

U.S. Rig Count is down 973 rigs from last year at 1861, with oil rigs down 871, gas rigs down 103, and miscellaneous rigs up 1. 

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The Great Crew Change used to be a phenomenon that everyone in the oil and gas industry could easily describe. When it was referenced, people knew it referred to the large age gap in the oil & gas workforce, where most engineers and geoscientists were either over 55 or under 35. Seems simple enough, right? 

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HOUSTON – Adapting the technology that powered the shale oil boom in Texas to the deserts of Saudi Arabia and elsewhere could produce 141 billion barrels of crude, research firm IHS said Thursday.

Horizontal drilling and hydraulic fracturing, alongside other technological breakthroughs in recent years, could pump that much oil out of 170 older, largely unproductive fields around the world, from the Middle East to Latin America to Russia. 

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The price of U.S. crude oil continued to rise to more than $61 a barrel on Wednesday morning after a federal report showed that American oil inventories dipped again last week.

U.S. crude inventories declined by 2.2 million barrels from the week prior, which had seen a dip of nearly 4 million barrels. U.S. refinery inputs last week also decreased an average of 379,000 barrels a day from the previous week, according to the U.S. Energy Information Administration update. Refineries operated at more than 91 percent capacity last week.

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 Cathedral Energy Services is a trusted partner to North American energy companies requiring high performance directional drilling services and dependable flowback and production testing services. Since 1998, Cathedral has worked in collaboration with our customers to tailor our equipment and expertise to meet their specific geographical and technical needs resulting in accurate wellbore placement, enhanced drilling efficiencies and lower project costs

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Noble Energy has reached an agreement to acquire Rosetta Resources in a $2.1 billion deal, with the assumption of Rosetta’s outstanding $1.8 billion debt.

Rosetta currently holds extensive assets in the Eagle Ford and Permian shale plays; 50,000 net acres in the Eagle Ford and 56,000 in the Permian.

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In 2014, E&P companies invested approximately US$155 billion in North American shale upstream activity and produced an average of 13.1 MMboe/d. This year companies have sharply cut the shale investment budgets and the total shale expenditure is expected to be US$$100 billion, down from our previous quarter's estimate of US$135 billion. As explained in previous editions, shale is the most flexible source of production. In response to lower prices, operators can quickly drop rig counts, shift focus to core areas, and delay the completion of wells.

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 In the transformation of U.S. energy supply from uncertainty to a new era of resource abundance, the Gulf of Mexico has played an essential but perhaps overlooked role. Even as rising production of oil and natural gas from shale rock onshore captured headlines in recent years, the Gulf continued yielding a solid one-sixth of domestic oil production. This is due in large part to sophisticated technologies that have made possible discoveries and production in waters approaching two miles in depth, hundreds of miles offshore.

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If an exploration and production company is going to use a downhole sensor to relay critical drilling dynamics data in real-time back to the surface, it makes sense to not include vibration in the measurement. After all, they are drilling deep into the earth’s crust. Everything’s vibrating down there.

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 U.S. Rig Count is down 11 rigs from last week to 894, with oil rigs down 11 to 668, gas rigs down 1 to 221, and miscellaneous rigs up 1 to 5.

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