DRILLING MARKET FOCUS: Industry stable in North America

The drilling industry appears to be on the upside of a supercycle, keeping most rigs busy in North America.Both oil and gas prices have stopped their rapid upward climb, but rigs are still working. The total number of US oil rigs is up slightly but relatively flat over the last 5 years. The bigger story is in the number of rigs drilling for gas in the US, which has doubled in only the last 3 years.December contracts on the New York market for US crude oil benchmarks expired Nov. 17 at the lowest closing price in 17 months (OGJ Online, Nov. 20, 2006). In some areas, reduced natural gas prices have caused operators to scale back development drilling. Yet operators are proceeding with major ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected