Evaluating a measured recovery

Low oil prices have challenged the economic viability of many deepwater projects, resulting in project delays and cancellations. Some companies such as ConocoPhillips and Marathon Oil Corp. have made significant strategic shifts away from deepwater in favor of shorter-cycle US unconventional plays. Source: News

BHI: Behind big gains in Texas, US rig count jumps 15 units

The US drilling rig count gained 15 units to 462 during the week ended July 22, representing its biggest increase since this week a year ago, according to Baker Hughes Inc. data. Fourteen of the units to come online are oil-directed. Source: News