Top Headlines: Turkey Makes Oil Discovery Worth $12B

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Turkey Makes Oil Discovery Worth $12 Billion

Turkey has discovered 150 million barrels of net oil reserves valued at an estimated $12 billion, according to an announcement by Turkish President Recep Tayyip Erdogan.

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USA Loses Rigs

The U.S. dropped four rigs week on week, according to Baker Hughes’ rotary rig count released on December 9.

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One Dead in Non-Work-Related Incident on Rig Offshore Qatar

Film-Ocean Ltd told Rigzone that one person has been fatally wounded and another has been injured “following a non-work-related incident on an offshore installation off Qatar”.

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Here’s How Brent Could Bounce Up Above $90 Again

Brent oil may need a Fed pivot and a successful China reopening to turn the corner, but prices could bounce up quickly above $90 per barrel if these two conditions are met, according to a new report from BofA Global Research.

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Oil Wells Creeping into Texas Cities Herald Shale Era Twilight

An uptick in drilling within the city limits signals that the very best rock in one of the world’s most prolific oil fields has already been tapped, Bloomberg reported.

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Analysts Explain Plunge in Oil Positioning Index

Standard Chartered’s crude oil positioning index has fallen for four consecutive weeks, according to a new report from the company, but its analysts think very little of the fall is due to the active opening of new short positions, the report revealed.

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