Monday, June 12, 2017

Oil: "Smallest number of horizontal oil rigs added since January"

by Bill McBride on 6/12/2017 09:47:00 AM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 9, 2017:

• smallest number of horizontal oil rigs added – one – since January

• Total US oil rigs were up 8 to 741

• This week’s horizontal rig additions are consistent with slowing activity in the sector – but one week does not a trend make
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.