Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Production, Rig Count Surge As Exxon Bets Big On U.S. Shale

Friday, March 3, 2017 15:55
% of readers think this story is Fact. Add your two cents.

(Before It's News)

zerohedge.com / by Tyler Durden / Mar 3, 2017

US oil rig counts rose for the7th straight week (up 7 to 609) to the highest level since October 2015.

With production surging back above 9mm b/d – the highest in a year – the trend in the rig count implies considerably more production to come…

***

And it’s all in the Permian…

***

And with rig counts rising (in the Permian), production shows no signs of slowing, as OilPrice.com’s Nick Cunningham notes, ExxonMobil’s new CEO Darren Woods announced a dramatic shift towards shale drilling this week, a new strategy that will prioritize drilling thousands of smaller wells while reducing spending on the massive projects that the oil major has long been accustomed to pursuing.

READ MORE

The post Production, Rig Count Surge As Exxon Bets Big On U.S. Shale appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/03/03/production-rig-count-surge-as-exxon-bets-big-on-u-s-shale/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.