Friday, April 28, 2017

Oil: "Yet another strong week" for Rig Count

by Bill McBride on 4/28/2017 03:26:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Apr 28, 2017:

• Total US oil rigs were up 9 to 697

• US horizontal oil rigs surged at twice the ‘call’ pace, up 11 to 592

• Next week, horizontal oil rigs will reach the full ‘call’ analysts have penciled in for this cycle.
Oil Rig CountClick on graph for larger image.

CR note: This graph shows the US horizontal rig count by basin.

Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.