• Total US oil rigs were flat at 844
• Horizontal oil rigs added 1 to 746
...
• Given the strength of oil prices recently, this week’s pause in rig additions came as something of a surprise, but might be attributable to transient, technical factors
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.