Industry News


So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.

The articles linked on this page are shared for informational purposes. The opinions and viewpoints expressed within these articles or their corresponding 'Comments' sections do not necessarily reflect those of Plasma-Tec and/or the employees of Plasma-Tec.

Category: RigCount

One of the world's biggest oil companies thinks the worst is over

By Chris Wysong
July 23, 2015 Category: Oil, RigCount, Schlumberger

After reporting second-quarter earnings last week, Schlumberger has reason to believe that deep cutbacks in the oil industry are coming to an end. One of the worlds biggest oil companies thinks the worst is over By: Akin Oyedele Schlumberger thinks the plunge in the oil rig count is near the bottom. The $100 billion oil-field services giant reported second-quarter earnings on Thursday afternoon that beat on profit but missed on sales. Importantly, however, the company signaled that it thinks some of the deep cutbacks seen in the oil industry over the last year may be coming to an end. And as the worlds biggest oilfield services provider, Schlumberger is particularly attuned to changes in the industry. In Schlumbergers second quarter, revenue came in at $9 billion, down 12% year-over-year. Earnings per share came in at $0.88. Analysts had expected EPS of $0.79 on revenues of $9.05 billion, according to Bloomberg. Over the last year, the price of oil has declined by about 50%,

Shale Boom Shows Strength as Rigs Gain With Oil Under $60

By Chris Wysong
July 10, 2015 Category: Shale, RigCount, ShaleOil

Shale is showing its resilience as drilling rigs were added in almost every major U.S. oil basin this week. Shale Boom Shows Strength as Rigs Gain With Oil Under $60 By:Lynn Doan and Dan Murtaugh For the first time in almost seven months, Americas shale drillers put rigs in oil fields back to work, and theyre doing it at a lower price. The last time they added rigs, crude futures were trading near $70 a barrel. Now, even after a rebound, theyre under $60. And yet drilling rigs rose in almost every major U.S. oil basin in the country this week, raising the total by 12, according to field-services company Baker Hughes Inc. The sudden rebound is a testament to how resilient U.S. shale has become in the battle for global market share. Spurred by last years collapse in prices, shale explorers have brought down their break-even costs by $15 to $20 a barrel, a Bloomberg New Energy Finance analysis shows. As much as anything else, the rise this week is a testament to break-evens coming down

The Chart Everyone's Been Asking For

By Chris Wysong
July 01, 2015 Category: , Onshore, RigCount, Trends

By Joseph Triepke Last week, we published a comparison of rig count collapses for 6 big downturns, noting some uncanny similarities in trough formations across the decades. In the comments section of that post (and by email), quite a few smart readers asked us to chart the ensuing recovery patterns in the same way, comparing the percentage change from each trough back up to the next peak. The exercise helps lend some perspective as to how the next couple of years could possibly shape up if you believe in past as prologue. So without further ado, heres the chart you asked for. See Chart source: baker hughes, oilpro A few quick observations: The time to double from the bottom: 10 months around 1982 downturn (although this was followed by another leg down), 17 months in 1997, 19 months in 2008, 42 months in 2001, and doubling didnt really happen in 1985; the chart highlights how lackluster the recoveries in the 1980s were by more modern recovery standards (in the 1980s, double dips

North Dakota's Oil Rig Count Appears To Have Hit Bottom

By Chris Wysong
June 25, 2015 Category: Oil, OilProduction, RigCount

The rig count in North Dakota has stabilized at its lowest level since 2009. North Dakotas Oil Rig Count Appears To Have Hit Bottom By: Ernest Scheyder (Reuters) WILLISTON, N.D., June 23 (Reuters) - The drilling rig count in North Dakotas oil patch, a closely watched metric through which many attempt to divine future crude production, appears to have hit a bottom. For the past three weeks the count has hovered between 76 and 79, after sliding only slightly from 80 at the end of May. On June 12, the count hit 76, the lowest level since 2009. The count bobbed slightly in the ensuing days, hitting 77 on Tuesday. It has, in short, been the longest period since oil prices started to slide last fall that the rig count has stayed in the same range, offering many in and near the No. 2 U.S. crude-producing states energy industry a bit of solace that a nadir has been reached. In early March, for example, the count was at 113. The apparent stabilization has produced a palpable sigh of relief

BHI Rig Count: U.S. -7 to 868, Canada +18 to 116

By Chris Wysong
June 05, 2015 Category: Oil, OilRig, RigCount

Baker Hughes released its weekly rig count data which showed decreases in the U.S. and increases in Canada. BHI Rig Count: U.S. -7 to 868, Canada +18 to 116 By: Baker Hughes Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of U.S. and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. The North American rig count is released weekly at noon central time on the last day of the work week. The international rig count is released on the fifth working day of each month. The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry. To read the rest of this article, visit Baker Hughes.

Eagle Ford sees modest drilling activity increase

By Chris Wysong
June 04, 2015 Category: RigCount, Oil, Drilling, Shale

The latest Baker Hughes rig count has shown an increase in Eagle Ford but decreases across the rest of Texas and the U.S. Eagle Ford sees modest drilling activity increase By: Sergio Chapa (San Antonio Business Journal) The Eagle Ford is seeing a modest rebound in new drilling activity, but other shale basins have not been as lucky. West Texas Intermediate crude prices are trading above $60 per barrel but higher prices have not meant more drilling activity for everyone. Figures from Houston-based Baker Hughes Inc.s (NYSE: BHI) rig count released on May 29 show a modest drilling increase in the Eagle Ford but decreases in the Permian Basin, the rest of Texas and across the United States. The number of active rigs rose from 107 to 110 in the Eagle Ford, a shale oil region just south of San Antonio. To read the rest of this article, visit Houston Business Journal.

Slide in U.S. oil rigs seen halting in May, says Morgan Stanley

By Chris Wysong
April 30, 2015 Category: RigCount, Oil, OilPrices, Wells

Well counts usually lag oil prices by about four months, indicating that May could see returning rigs across the U.S.. Slide in U.S. oil rigs seen halting in May, says Morgan Stanley By: Bill Lehane (Bloomberg News) The decline in drilling rigs in the U.S. could bottom out in May, with operators already reviving operations in parts of Eagle Ford and Permian in Texas, according to Morgan Stanley. The low point in the rig count usually lags prices by about four months, analyst Adam Longson said in a report dated Monday. The number of active rigs fell last week to the lowest since October 2010, Baker Hughes Inc. data show. Oil prices gained this month amid speculation that the slump in active rigs would curb U.S. production, stemming the rise in the nations stockpiles and helping to alleviate a global surplus. To read the rest of this article, visit Power Source.

Oil Prices Hold Gains After Data on Drilling Activity

By Chris Wysong
April 14, 2015 Category: OilPrice, Oil, RigCount

Oil prices are rising as rig counts continue to fall which is a signal that production is close to a plateau. Prices rose 5.1% last week, continuing four straight weeks of gains. Oil Prices Hold Gains After Data on Drilling Activity By: Nicole Friedman (Fox Business) Oil prices rose for the fourth straight week on expectations that production will soon plateau and amid uncertainty about Iranian nuclear negotiations. Light, sweet crude for May delivery settled up 85 cents, or 1.7%, to $51.64 a barrel Friday on the New York Mercantile Exchange. Prices rose 5.1% in the week. Brent, the global benchmark, rose $1.30, or 2.3%, to $57.87 a barrel on ICE Futures Europe, posting a 5.3% weekly gain. The moves capped a volatile week of trading, as investors continued to assess the global glut of oil that sent prices plunging in 2014. The market is currently oversupplied by between one and two million barrels of oil a day, analysts estimate, but many expect production to begin falling this

BHI: US rig count falls under 1,000 for first time since 2009

By Chris Wysong
April 14, 2015 Category: Oil, RigCount

Continuing 18 consecutive weeks of declines, the US rig count has reached its lowest point since September 2009. BHI: US rig count falls under 1,000 for first time since 2009 By: Matt Zborowski (OGJ) After noticeably slowed declines over the previous 2 weeks, the US drilling rig count fell 40 units to 988 rigs working during the week ended Apr. 10, settling under 1,000 for the first time since Sept. 11, 2009, according to data from Baker Hughes Inc. Forty-one units went offline during the previous 2 weeks (OGJ Online, Apr. 2, 2015). The count has fallen in 18 consecutive weeks, during which time it has plunged 932 units (OGJ Online, Dec. 5, 2014). The total of 988 is the lowest since Aug. 21, 2009, and 843 fewer units compared with this week a year ago. The average US rig count for March was 1,110, down 238 from Februarys average, and down 693 from the average in March 2014. During the week, virtually all of the declines in the US comprised land-based oil rigs. Land rigs and oil

Baker Hughes: US Oil Rig Weekly Decline Smallest Since December

By Chris Wysong
April 06, 2015 Category: RigCount

The drilling collapse is showing signs of reaching its low point as last week showed only an 11-rig decline in U.S. oil fields - the smallest drop since December. Baker Hughes: US Oil Rig Weekly Decline Smallest Since December By: Reuters April 2 (Reuters) - The number of rigs drilling for oil in the United States declined by 11 this week to 802, the smallest decline since December, oil services firm Baker Hughes said in its closely watched survey on Thursday. The data, which was released a day earlier due to the Good Friday holiday, compares with declines of 12 and 41 rigs in the prior two weeks and is a sign the collapse in drilling over the past few months has reached its low point. After a precipitous drop since October, the U.S. oil rig count is nearing a pivotal level that experts say could begin to dent production, bolster prices and even coax oil companies back to the well pad in the coming months. Energy producers responded quickly to a steep drop in oil prices over the

Smallest Oil Rig Drop in Three Weeks Shows Retreat Easing

By Chris Wysong
March 24, 2015 Category: Oil, RigCount

US rig counts have fallen for 15 straight weeks but the past week showed the smallest decline in that span. Smallest Oil Rig Drop in Three Weeks Shows Retreat Easing By: Lynn Doan (Bloomberg Business) (Bloomberg) -- The biggest retreat from U.S. oil fields on record is showing signs of subsiding. Oil explorers sidelined 41 drilling rigs this week, the smallest drop in three weeks and down from the average 59-rig decline in February. The count has fallen for 15 straight weeks to 825, reaching the lowest level in more than five years, Baker Hughes Inc. said on its website Friday. The country has lost an unprecedented 750 oil rigs in the past 15 weeks as collapsing prices force drillers to let go of thousands of workers and retreat from shale formations. The slide in the rig count threatens to bring to a halt the oil production boom that turned the U.S. into the worlds largest fuel exporter. While were still going to see declines on a weekly basis, the retreat is definitely losing

Baker Hughes: US Oil Rig Count Hits Lowest Since April 2011

By Chris Wysong
March 13, 2015 Category: RigCount, Oil

Rig counts continue to decline at a higher rate than analysts have expected. Baker Hughes: US Oil Rig Count Hits Lowest Since April 2011 By: Scott DiSavino (Reuters) March 6 (Reuters) - The number of U.S. drilling rigs in use fell sharply in the week to Friday, almost doubling the cuts of the past two weeks and hitting the lowest since April 2011, a survey showed. The number of rigs drilling for oil in the United States fell by 64 to 922, oil services company Baker Hughes Inc said in its weekly report. The drop in the oil rig count was a little more than expected, as we thought the velocity of declines had slowed, said Evercore ISI analyst James West. The reduction this week almost doubled declines of 33 and 37 in the prior two weeks. But those declines were less steep than those of the prior three weeks, which exceeded 80. Rigs fell for the 13th straight week as producers cut activity in the face of slumping oil prices . The number of oil rigs in use has fallen in 18 of the past

BHI Rig Count: U.S. +11 to 1925, Canada +5 to 414

By Chris Wysong
September 08, 2014 Category: BHI, RigCount, U.S., Canada

Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website. BHI Rig Count: U.S. +11 to 1925, Canada +5 to 414 By: Baker Hughes Incorporated BHI Rig Count: U.S. +11 to 1925 rigs U.S. Rig Count is up 11 rigs from last week to 1925, with oil rigs up 9 to 1584, gas rigs up 2 to 340, and miscellaneous rigs unchanged at 1. U.S. Rig Count is up 158 rigs from last year at 1767, with oil rigs up 219, gas rigs down 54, and miscellaneous rigs down 7. The U.S. Offshore rig count is 65, down 1 rig from last week, and unchanged year over year. To read the rest of this article, visit Baker Hughes.

Oil (157)
Shale (70)
Policy (49)
Economy (35)
Fracking (34)
Manufacturing (28)
Gas (27)
Crude (26)
Drilling (19)
Pumps (14)
RigCount (13)
OilPrices (13)
OilPrice (11)
Wells (11)
Energy (11)
OPEC (11)
Exports (10)
Jobs (10)
OilGas (9)
US (9)
Water (8)
NaturalGas (7)
KeystoneXL (7)
OilProduction (7)
Production (6)
Leadership (5)
Brent (5)
Ohio (4)
MergersandAcquisitions (4)
Hockey (4)
Keystone (4)
NHL (4)
Plasma Spray (4)
Technology (4)
Thermal Spray (4)
Acquisitions (3)
U.S. (3)
OilSupply (3)
Michigan (3)
RigCounts (3)
Canada (3)
Europe (3)
Legislation (3)
RedWings (3)
ShaleGas (3)
Rigs (3)
Finance (3)
CrudeOil (3)
U.S.Energy (3)
Mexico (3)
Election (3)
OffshoreDrilling (2)
Talent (2)
Labor (2)
Exploration (2)
Exxon (2)
HVOF (2)
Companies (2)
BakerHughes (2)
WaterReuse (2)
Robots (2)
Politics (2)
GovernmentRegulation (2)
Growth (2)
NorthDakota (2)
Imports (2)
Refracking (2)
America (2)
WaterTreatment (2)
ShaleOil (2)
Onshore (2)
Millenials (2)
ConsumerSpending (1)
Market (1)
ShaleDrilling (1)
Arctic (1)
WellCompletion (1)
SocialSecurity (1)
Government (1)
CrudePrices (1)
WellDesign (1)
DrillingTechniques (1)
Teamwork (1)
USA (1)
OilSands (1)
OilShale (1)
OilFutures (1)
Forecasts (1)
Output (1)
Costs (1)
ChrisKyle (1)
Petroleum (1)
CorporateCitizenship (1)
WaterPumps (1)
WaterPump (1)
Pipeline (1)
CorporateSocialResponsibility (1)
Conservation (1)
DepartmentoftheInterior (1)
Crudeoil (1)
JobCreation (1)
Oil Production (1)
Manufacturing Jobs (1)
OilRigs (1)
Coal (1)
PowerGeneration (1)
Schlumberger (1)
Oil Export Ban (1)
Oil Prices (1)
Oil Ban (1)
Greenhouse Gases (1)
OIlSurplus (1)
Energy Production (1)
Oil Pro News (1)
Crude Oil (1)
Law (1)
CNC Machining (1)
Pump Plungers (1)
Flame Spray (1)
Twin Wire Are (1)
Hvof Spray (1)
General (1)
ShaleWeathering (1)
Workers (1)
OilExports (1)
Unions (1)
OilDemand (1)
ShaleSupply (1)
OilRig (1)
EnergyProduction (1)
EnergySecurity (1)
SupplyChain (1)
CrudeExports (1)
Producers (1)
ShaleWell (1)
ExportBan (1)
CrudeExportBan (1)
IHSdeals (1)
Oilcrash (1)
Crudecrash (1)
HigherEducation (1)
OilPatch (1)
Trends (1)
Refracturing (1)
Egypt (1)
Coatings (1)
WallStreet (1)
India (1)
GDP (1)
Demand (1)
AlternativeEnergy (1)
Land (1)
Pittsburgh (1)
Airports (1)
Recycling (1)
Reports (1)
Railroad (1)
Sustainability (1)
BHI (1)
Nebraska (1)
SouthDakota (1)
PressurePumping (1)
ArtificialLift (1)
Regulations (1)
Transportation (1)
Russia (1)
AlternativeEngergy (1)
Reserves (1)
ThermalSpray (1)
EuropeanEnergy (1)
Environment (1)
App (1)
Engineers (1)
Reservior (1)
OilfieldEconomics (1)
Reservoir (1)
Africa (1)
OilField (1)
DeepWaterFracking (1)
Investors (1)
Plays (1)
Import (1)
Duties (1)
Ethane (1)
Facilities (1)
DrillingRigs (1)
EconomicGrowth (1)
Utica (1)
Hiring (1)
Investments (1)
WTI (1)
GlobalEconomy (1)
OilCompanies (1)
CorporateCulture (1)
CompanyInformation (1)
Machining (1)
Stocks (1)
PumpTypes (1)
Spending (1)
MiddleEast (1)
Supply (1)
Plasma Tec (1)
PowerPlants (1)
WaterGeneration (1)
WaterSources (1)
Oklahoma (1)
Basketball (1)
SouthKorea (1)
Farming (1)
Future (1)
StockMarket (1)
FederalReserve (1)
Offshore (1)
OilandGas (1)
STEM (1)
Investing (1)
Students (1)
GE (1)
CoatingProcesses (1)
PennState (1)
Buildings (1)
Research (1)
Development (1)
World (1)
BestPractices (1)
Reshoring (1)
Halliburton (1)
Spray And Fuse (1)
+ Show More