Beacon Offshore Energy, U.S. Rig Count: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PRODUCTION
Beacon Offshore Energy Begins Production from Shenandoah Field - Beacon Offshore Energy LLC (Houston, Texas) said it began oil and natural gas production at its Shenandoah field off the coast of Louisiana on Friday, nearly a month after it was originally expected to commence. Beacon, which in May said it expected first oil in June, expects to ramp up the Phase 1 wells during the third quarter to deliver about 100,000 barrels per day. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (Reuters)

U.S. Drillers Cut Rigs - U.S. energy firms last week cut the number of oil and natural gas rigs operating for the 12th time in 13 weeks, energy services firm Baker Hughes Company (Houston, Texas) said Friday. The oil and gas rig fell by two to 542 in the week ending July 25. Baker Hughes said oil rigs fell by seven to 415 last week, their lowest since September 2021, while gas rigs rose by five to 122, their highest since August 2023. (Reuters)

POWER
Philippines' Rising Renewables Could Push Power Prices 24% Lower - Increasing adoption of renewable energy in the Philippines could push average annual spot power prices as much as 24% lower by 2029, its power market operator said on Thursday. Spot power prices in the Philippines have fallen to a post-pandemic low of 4.14 Philippine pesos (US$0.0731) per kilowatt-hour (kWh) in the first half of 2025, data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed. They averaged 5.58 pesos (US$0.0977) per kWh last year. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).