Russian oil company Rosneft said its overall hydrocarbon production for the second quarter of the year was on the rise thanks in part to a drilling boom. Production for the second quarter was 4.1 million barrels of oil per day, an increase of 0.5 percent from the previous period. Total hydrocarbon production was up 0.2 percent from the first quarter and 0.7 percent year-on-year. The company credited the increase in production to an intensified drilling program, which was up 16 percent from the first quarter. The total footage of development drilling increased 48 percent from last year during the first half of 2016. “In June 2016, a new record in daily drilling footage was set at all producing assets of the company,” Rosneft said in a statement . Last week, oilfield services company Baker Hughes reported the international rig count, a metric that loosely […]