Friday, September 08, 2017

Oil Rigs "Rig counts continue to ease back"

by Bill McBride on 9/08/2017 06:09:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Sept 8, 2017:

• Rig counts were off modestly this week

• Total US oil rigs were down 3 at 756

• Horizontal oil rigs were down 1 at 643
...
• Drilling Info rig counts are plateauing, still higher than Baker Hughes

• Texas – and Baker Hughes’ headquarters – faced challenging conditions this past week; numbers may be a bit more unreliable than usual.
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.