Friday, September 29, 2017

Oil Rigs "Signs of life in the rig count"

by Bill McBride on 9/29/2017 02:33:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Sept 29, 2017:

• Rig counts were off modestly this week

• Total US oil rigs were up 6 to 750

• Horizontal oil rigs were up 6 to 640
...
• WTI suggests we have seen the rig bottom for the mini-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.