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Visitors to an offshore drilling rig or production platform receive safety training and are outfitted with steel-toed boots, safety goggles, gloves, hearing protection, and a helmet.
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Specifically looking at Schlumberger alone, we have captured the increased drilling activity in the rig count estimate and the higher revenues from completion and production activities in the increased revenue per rig figures.
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They have been the largest driller for years, and they have a very explicit strategy in terms of rig deployment, production, and prices.
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In the near term, production figures will continue to rise, even as rig counts start to fall.
FORBES: Driven by Oil Shale Economics, Natural Gas Prices Primed for Slow and Steady Rise
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Other than natural gas, Chesapeake also operates in oil production, oil and natural gas marketing, natural gas compression, rig drilling and trucking, which form the rest 25% of the stock price.
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Our forecast for the increase in rig count for the Middle East and Asia region takes into account the major expansion in the exploration and production activity in Iraq over the next few years.
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