Business briefcase for Jan. 11, 2020
Oklahoma rig count increases
Baker Hughes reported Friday that the number of rigs drilling for oil and natural gas increased by one in Oklahoma this week, while the national count fell. Oklahoma's count this week is 52, down 84 from 136 one year ago.
Nationwide, the active rig count slipped by 15 to 781, down 294 from 1,075 one year ago. The count for rigs drilling for oil declined by 11, to 659. The number of rigs searching for natural gas declined four, to 119. The number of miscellaneous rigs operating this week is three.
The number of rigs working in the Cana Woodford increased by one week-over-week, to 21. The most active basins this week, Baker Hughes said, are the Permian in west Texas and southeast New Mexico at 397, the south Texas Eagle Ford at 67, the Williston at 51, the Haynesville at 45 and the Marcellus at 41.
Pipe manufacturer cuts staff
Paragon Industries, an American Petroleum Institute-licensed manufacturer of oil country tubular goods and line pipe products, has eliminated 35 jobs, state officials announced Friday.
Bill Hancock, the business services and rapid response coordinator at Oklahoma’s Office of Workforce Development, said the company eliminated the positions when it discontinued night-shift operations at its facility.
Paragon also produces structural pipe piling and other products that meet ASTM International standards, its website states.