by Calculated Risk on 8/18/2017 05:03:00 PM
Friday, August 18, 2017
A few comments from Steven Kopits of Princeton Energy Advisors LLC on Aug 18, 2017:
• Rigs counts are now off the peakClick on graph for larger image.
• Total US oil rigs were down 5 to 763
• Horizontal oil rigs were down 4 at 650
• Expect rigs counts to roll off for the next three months or so, with oil prices languishing in the $46-49 range typically.
CR note: This graph shows the US horizontal rig count by basin.
Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.
Posted by Calculated Risk on 8/18/2017 05:03:00 PM