US Oil Rig Count Still Dropping, Oil Production Stays Strong
According to recent figures released by Baker Hughes, the total number of active oil and gas rigs dropped by 11 during the week of June 7, 2019, falling to 789. This represents the lowest recorded figure since February 2019. Oil production has yet to fall significantly despite this reduction of drilling equipment. MWD training efforts and other advances in drilling techniques may contribute to the profitability of the oil and gas industry despite the reduction in oil and gas rigs in our region.
Oil Production Still Strong
Most analysts note that despite fewer active oil and gas rigs in the fields, the oil production for the U.S. and Canada continues to make a strong showing. Projections indicate a reduced demand for oil in the upcoming year thanks to issues related to the trade disputes between the U.S. and other countries. This could drive prices lower, which would likely increase demand once again for oil and gas products. As an oil and gas company, keeping a close eye on market trends is the key to continued success in this volatile industry.
Modern Technologies Necessary for Continued Growth
Measurement-while-drilling (MWD) is a technique that allows operators to determine the rate, geological conditions, and precise direction of drilling in real-time. This information will help your crew to achieve higher productivity and reduce the risk of damage to equipment. MWD technical support and training is required to ensure the best results from your drilling operations.
The Need for Comprehensive MWD Training
Making sure your crew members have the necessary MWD equipment training and strategies is essential to your ongoing success in the industry. MWD methods are becoming more popular because they offer advantages during extraction among various locations. The right training can go a long way toward ensuring the best results and remaining competitive in the market.
The friendly and knowledgeable staff at MWD Supply can provide you with MWD training solutions to boost productivity in the drilling environment. By investing in MWD rental kits, technical support, and training, your company will be able to achieve higher productivity and profitability. Call us today at 281-664-0196 to request a catalog or to get a quote from our team. We look forward to the opportunity to serve you.