by Calculated Risk on 9/01/2017 07:33:00 PM
Friday, September 01, 2017
A few comments from Steven Kopits of Princeton Energy Advisors LLC on Sept 1, 2017:
• Continued decline in horizontal rig countsClick on graph for larger image.
• Total US oil rigs were flat at 759
• Horizontal oil rigs were down 3 at 644
• Drilling Info continues to show a widening disparity to Baker Hughes
• Thesis is unchanged: Expect rigs counts to roll off for the next two 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 9/01/2017 07:33:00 PM