by Calculated Risk on 8/17/2018 07:01:00 PM
Friday, August 17, 2018
A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 17, 2018:
• Oil rigs took a breather, consolidating last week’s gainsClick on graph for larger image.
• Total rigs were flat at 869
• Horizontal oil rigs declined, -2 to 768
• Horizontal oil rig counts stand at the level of ten weeks ago in both the Permian and other plays
• This month’s DPR shows US shale oil production was up 150 kbpd in July to 7.2 mbpd.
• Year on year growth in the Permian came in a 0.92 mbpd – almost one million barrels per day of annual growth from just one play!
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 8/17/2018 07:01:00 PM