Friday, June 02, 2017

Oil: "A middling week for rig additions"

by Bill McBride on 6/02/2017 05:32:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 2, 2017:

• A middling week for rig additions

• Total US oil rigs were up 11 to 733

• US horizontal oil rigs added 7 to 633

• Rig additions may still have been affected by logistics considerations associated with the Memorial Day weekend
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.