The School of Energy Resources features information about the energy industry on a
weekly basis. Here is a recap of this week’s stories.
Baker Hughes Rig Counts
report the total rig counts this week.
- The U.S. rig count is down 3 rigs from last week to 1,022, with oil rigs up 2 to 833,
gas rigs down 5 to 189, and miscellaneous unchanged at 0.
- The U.S. rig count is up 14 rigs from last year’s rig count of 1,008, with oil rigs
up 18 to 833, gas rigs down 3 to 189, and miscellaneous rigs down 1.
- The Wyoming rig count is unchanged at 36 rigs.
- The Colorado rig count remains at 32 from last week.
- The New Mexico rig count has gone down 2 rigs to 105.
- The North Dakota rig count is holding strong at 61 rigs.
- The Texas rig count has gone up 3 rigs from last week to 502.
Opening Prices from Bloomberg Energy April 12
- West Texas Intermediate (WTI) opened at $63.71, up from last week’s opening price
- Brent Crude opened at $70.95, also up from last week’s opening price.
- Natural gas opened at $2.67, only 0.01 higher than last week’s opening price.
CNBC news reports that Chevron is going to buy Anadarko Petroleum in a $33 billion cash and
stock deal. This will be the 11th biggest deal ever for an energy and power company.
This deal will push Chevron up the ranks, making them the second largest international
oil major. This deal is also expected to strengthen and solidify Chevron's position
in the Permian Basin.
Gillette News Record reports that PacifiCorp plans on replacing 68 of Carbon Counties current turbines
with 12 units. Landowners in the area are concerned that the revegitation of the perennial
grasses that are key foods for livestock and wildlife are not following reclamation
Govdelivery reports that Wyoming Governor Mark Gordon applauds and supports the new executive
order signed by President Trump. The executive order promotes energy infrastructure
and economic growth, requiring the Secretary of Energy and the Secretary of Transportation
to study and report on the economic and other impacts caused by limitation on the
export of coal, oil, natural gas, and other domestic energy resources.
- North American Wind Power reports that Texas is leading the way in wind energy growth,
with the U.S. wind industry up 8% last year. Wind power generates more than $1 billion
per year in revenue and support over 114,000 American jobs.
The Torrington Telegram reports that large voids have been found in the subsurface underlying the proposed
path of the Gateway West Transmission Line Project. This could cause massive structural
problem with the transmission line if it is installed without proper mitigation of
The Casper Star Tribune reports that Could Peak Energy bankruptcy, increasing taxes on coal production, and
estimated coal production declining are all warning signs that Wyoming coal may be
in bigger trouble than previously speculated.