An oil-drilling ship capsized in the Gulf of Suez, killing at least four crewmen and leaving four others missing, authorities said Wednesday.

Egyptian authorities say an oil-drilling ship capsized in the Gulf of Suez, killing at least four crewmen and leaving four ...

Egyptian authorities say an oil-drilling ship capsized in the Gulf of Suez, killing at least four crewmen and leaving four ...

Global rig count hits 20-year low, signaling tighter oil supply and possible price surge. Stocks like Diamondback, Coterra, EOG and Occidental poised to benefit from efficient, low-cost production ...

Jack-up rigs are used in shallow waters up to around 500 feet and can drill beyond 5.6 miles. Their long legs — which reach the seabed and elevate the platform above the surface — offer a ...

Decommissioning an oil rig presents logistical, financial, and environmental problems. Once a well runs dry, companies must clear equipment, seal the well, and remove all infrastructure from the ...

The total rig count in Canada is up 7 from last week and up 7 from the same period a year ago. The rig count in Canada ended the week with 7 additional rigs running. For the week ended May 16, the ...

The total U.S. rig count is made up of 483 oil rigs, 99 gas rigs, and five miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 527 horizontal rigs ...

The increased rig count could signal that the market was not as shocked as some had feared by oil prices briefly plummeting below $60 per barrel earlier this month. Many in the oil and gas ...

The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on boosting shareholder ...

The number of active rigs drilling for oil and gas in the U.S. fell for a second consecutive week, shedding 2 to 590, Baker Hughes said in its latest report.

Baker Hughes said oil rigs rose by five to 489 this week, their highest since June, while gas rigs fell by seven, the most in a week since May 2023, to 96, their lowest since September.