Monday, July 09, 2018

Oil Rigs: "A rebound after last week's fall"

by Bill McBride on 7/09/2018 08:56:00 AM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on July 6, 2018:

• Rig counts recovered after last week’s lousy numbers

• Total oil rigs are up, +5 to 863

• Horizontal oil rigs rebounded, +6 to 771
...
• The big movers this week were the Cana Woodford, -6; and Other US, +7. Expect some reversal of these numbers next week.
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.