SkySkopes News

Canada averaged 175 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 29% are drilling for natural gas, 52% are drilling for oil, 2% for other (helium, hydrogen, geothermal, or potash), and 17% are moving. Drilling activity by province is 70% in Alberta, 19% in Saskatchewan, [Read more]

U.S. energy firms this week added oil and natural gas rigs for a second week in a row, in a record 23-month streak of increases, as high crude prices and prodding by the government prompted drillers to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose 13 [Read more]

U.S. natural gas futures held near an 11-week low on Friday as forecasts for hotter weather, higher demand and less output than last month offset a drop in liquefied natural gas (LNG) exports due to the extended shutdown of the Freeport LNG export plant in Texas. In Texas, power demand hit record levels again this [Read more]

There are no plans at the moment to hold an extraordinary summit of European Union leaders in July to discuss ways to deal with rising gas prices, an EU official said on Friday. “There are no plans,” the official said when asked about reports on a possible extra summit next month. The official said Italian [Read more]

Oil prices rose slightly in early Asian trade on Friday as nations seek to address global crude oil and fuel supply tightness. U.S. West Texas Intermediate (WTI) crude futures rose $1.72, or 1.66%, to $105.66 a barrel.  Brent crude futures rose $1.69, or 1.54%, to $111.28 a barrel. OPEC and allied producing countries including Russia [Read more]