The climate of Salt Lake City varies widely. Lying in the Salt Lake Valley, the city is surrounded by mountains and the Great Salt Lake. The city has four distinct seasons: a cold, snowy winter; a hot, dry summer; and two relatively wet transition periods.
The price of oil rigs for land drilling in the United States typically starts at around $18 million to $20 million and goes up to around $25 million, but it can be nearly twice that amount depending on the specific rig purchased. The least-expensive rigs are those classified as U.S. small footprint land rigs.
The EIA (U.S. Energy Information Administration) released its monthly STEO (Short-Term Energy Outlook) report on June 9, 2015. The report highlighted that Brent crude oil prices could average around $61 per barrel in 2015 and $67 per barrel in 2016.Brentâs 2016 estimates are $3 per barrel lower than the EIAâs previous estimates.PEC produced 31.2 MMbpd of crude oil in May 2015. The estimates of rising production will continue to put pressure on crude oil prices. Higher crude oil prices benefit some of the US shale oil and gas companies like Whiting Petroleum (WLL), Continental Resources (CLR), and Marathon Oil (MRO).