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November Oil & Gas News Roundup

A lot is happening in the Oil & Gas industry in the month of September. Continue reading our oil and gas news roundup to learn more about what’s happening in the industry this month.

North America Adds Rigs

North America added five rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on November 22nd. The U.S. added four rigs and Canada added one rig week on week, taking the total North America rig count up to 819, the count outlined. The total U.S. rig count comprises 622 and the total Canada count comprises 197. Of the total U.S. rig count, 600 are categorized as land rigs, 21 are categorized as offshore rigs, and one is categorized as an inland water rig.

Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus. 

For more information and their full reports click here

Clean Energy start-ups are struggling as they wait for government aid

Some American clean energy and technology startups are struggling to keep afloat while waiting for the U.S. Administration to disburse the pledged loans and funds under the landmark Inflation Reduction Act (IRA).

Several startups have already filed for bankruptcy, others have flagged the ability to continue as a growing concern or hired advisors to evaluate financing and strategic alternatives as soaring construction costs and high interest rates challenge their initial plans and timelines for having production sites up and running.

Click here for more information on these struggling start-ups. 

US Coast Guard seeks source of 1.1 million gallon leak in Gulf of Mexico

The U.S. Coast Guard is still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a million gallons of crude oil. The 67-mile long pipeline was closed by Main Pass Oil Gathering Co (MPOG) after crude oil was spotted around 19 miles offshore of the Mississippi River Delta, near Plaquemines Parish, southeast of New Orleans.

While the exact volume of discharged oil was not known, the Coast Guard, which was leading the clean-up, said initial engineering calculations placed the volume of the leak at 1.1 million gallons, or 26,190 barrels.

To keep up to date with this oil and gas crisis click here

Reach Out to Tiger General

We hope you found our September oil and gas news roundup interesting. If you need a new piece of equipment, fill out the Tiger General Truck Inquiry Form today!