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Stock impact report

Permian Oil Rig Count Decreases in 3 of Prior 6 Weeks [Yahoo! Finance]

Diamondback Energy, Inc. (FANG) 
Last diamondback energy, inc. earnings: 2/18 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.diamondbackenergy.com
Company Research Source: Yahoo! Finance
The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications. Baker Hughes' data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company's oilfield services from exploration and production companies. Rig Count Data in Detail Total U.S. Rig Count Falls: The number of rigs engaged in the exploration and production of oil and natural gas in the United States was 624 in the week ended Mar 22. The figure is lower than theweek-ago count of 629. The figure decreased in three of the prior six weeks, signifying there has been a slowdown in drilling activities. Many analysts believe that shale producers are getting more efficient, requiring fewer rigs, while some doubt whether certain producers have enough prospective land to drill. The current na Show less Read more
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