Welcome to the January
Welcome to the January 2021 oil & gas activity report from TCI Business Capital.
Over the past month, oil prices have been on a steady rise. On December 28th, WTI closed at $47.62. Since then, prices hit a high of $53.57 on January 14th. On January 25th, WTI closed at $52.77.
The January 22nd Baker Hughes rig count report shows 378 active drilling rigs in the US. The oil rig count is 289 rigs, and the gas rig count is 88. One year ago, the total active land rig count was 772. Oil rigs are down 387, and gas rigs are down 27 compared to the January 2020 counts.
In the major plays, the Permian Basin rig count is at 188 rigs, up 15 rigs from December.
In east Texas, the Eagle Ford shale is at 27 active rigs, up two from last month.
The Haynesville shale rig count is at 45 rigs, up two from one month ago.
The Anadarko rig count is 17, which is up one rig from the December count.
In the Rockies, the active rig count in the Niobrara Shale is 12 rigs, up two rigs from December
The Bakken Shale rig count is eleven rigs, the same as December.
The Appalachian has 35 active rigs, an increase of three rigs from last month.
The Energy Information Administration’s Short Term Energy Outlook report dated January 12th estimates US crude production fell from 12.2 million barrels per day in 2019, to 11.3 million barrels per day in 2020. The report predicts 2021 production to be 11.1 million barrels per day.
If your company is experiencing a cash flow problem due to low crude prices or your customers are holding on to their money, contact TCI Business Capital.
For over 25 years, we have provided working capital and cash flow solutions to oilfield service companies through our invoice factoring programs. To learn more about our custom factoring solutions for oilfield contractors, give us a call at (800) 707-4845 or visit tcicapital.com.
CNBC's Kelly Evans
CNBC's Kelly Evans discusses why crude oil is lower amid the overall market dip with CNBC's Brian Sullivan and Dan Pickering of Pickering Energy Partners. Subscribe to CNBC PRO for access to investor and analyst insights on oil and more: https://cnb.cx/2BT2E7y
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Today was brutal in the stock market. Hold tight everyone, don't try and sell. I just made a video about the power of compound interest. You gotta trust the process!
LOOK AT THIS AS WELL GAME OVER! ??
Covid is what theses globalist prayed for and now their saying it like they get a bonus check for every time they can insert it into a conversation
Naw, no crash negative Nancy, just a normal minor correction.
Buy no brainer bullet proof cash rich companies:
I bought Amazon, Apple, Nvidia, Zoom, Facebook, Microsoft, Google, Wells Fargo, Netflix
TRUST THE PROCESS.
The stock market goes up in the long term
because it takes 2 steps forward for every 1 step backward.
Cash is trash, it loses to inflation.
There's a lot of money on the sidelines, and new 401K money
Then why is gas still almost $2.00 a gallon? Who’s making the money here anyway?
Feb.04 -- Bloomberg
Feb.04 -- Bloomberg Intelligence's Fernando Valle talks about big oil earnings on "Commodities Edge."
I invest all money into fossil fuel, and I believe oil price will top 147 dollars per barrel. Remember this is Biden, so if OPEC does not face Shale competition due to climate change, they have no trouble to cut production longer, it will help Gulf states
I'm pretty sure everyone wants successful deployment of the vaccine
so people can buy gas and get back to work.
Going to be interesting to see how this play's out
THEY LOST 22 BILLION DOLLARS WTF IS THIS ANALYSIS AND THEY HAVE TO CHANGE THEIR WHOLE ECO SYSTEM AND BUSINESS PLAN
buy NVIDIA, QUALCOM, AMAZON, APPLE, Wells Fargo, FACEBOOK,
DON'T drive at all and work remotely.
capitol riot means a covid19 petri dish; we need another lockdown. we have Amazon Prime streaming and don't need to travel
or go to a commercial theater and avoid covid19, mass shooting (gun sales doubled in 2020), police killing nonwhites like
George Floyd, and exploding RVs like in Nashville, capitol rioters bringing pipe bombs
long-term losers, mark my words: gamestop, hertz, bitcoin, tesla
long-term winners: buy AMAZON, APPLE, FACEBOOK, NVIDIA