Oil Rigs "Signs of life in the minor plays"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Mar 23, 2018:

• Total US oil rigs were up this week, +4 to 804

• Horizontal oil rigs were up, +1 to 708
...
• The Permian continues to perform relatively well overall, although only one horizontal rig has been added there in the last six weeks.

• The Cana Woodford was absolutely hammered again, now below its July peak

• The minor ‘Other’ plays have come back to life, with horizontal oil rigs there above last July’s peak for the first time

Click 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.