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Market Close: April 16 Down

Fueling Strategy: Please fuel as needed today/tonight, Saturday prices will go up one penny – Be Safe
NYMEX Crude    $ 63.13 DN $.3300
NYMEX ULSD     $1.8957 DN $.0032
NYMEX Gas       $2.0399 DN $.0119
NEWS

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 7 this week, bringing the total rig count to 439. Last week, the U.S. oil and gas rig count increased by 2. The total number of active oil and gas drilling rigs in the U.S. is now just 90 fewer than this time last year. The oil rig count increased by 7 this week, bringing the total oil rig count to 344 this week. The number of gas rigs increased by 1 to 94. The number of miscellaneous rigs fell by 1.

The EIA’s estimate for oil production in the United States for the week ending April 9 rose by 100,000 bpd this week to 11 million barrels per day. The EIA estimates that U.S. oil production will reach a modest 11.04 million bpd this year. Canada’s overall rig count decreased this week by 2. Oil and gas rigs in Canada now sit at 56 active rigs, up 26 on the year. The rig count in the Permian basin increased by 3 this week. The Permian’s total rig count is now just 56 rigs below this time last year.

The Frac Spread Count provided by Primary Vision shows that fracking crews are trending upward overall, now hovering above 200, showing a significant increase over the modest double-digit figures seen during the height of the pandemic. The frac spread count, which estimates the number of completion crews finishing off previously drilled wells, came in at 206 according to available data for the week ending April 9. This compares to a frac spread count of just 45 in May of last year

Have a Great Day,
Loren R Bailey, President
Fuel Manager Services Inc.
“Serving the trucking industry since 1992”
Office: 479-846-2761
Cell: 479-790-5581
www.FuelManagerServices.com
www.owneroperatoradvisoryservice.com
“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.”
Categories: Fuel News
loren: Fuel Manager Services Inc. "Serving the trucking industry since 1992" I've been in and around the trucking industry for 45-years beginning in owner operator operations at Willis Shaw Express. I bought a small trucking company that I ran for 6-years then sold and went to work for J.B. Hunt Transport in 1982. After 10-years with Hunt, I started Fuel Manager Services, Inc., we are in our 29th year of serving the American trucking companies. Our simple goal was and is to bridge the gap between the trucking companies and the fuel suppliers.