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Friday, August 24, 2018

Oil Rigs: "Horizontal oil rigs roll off modestly"

by Calculated Risk on 8/24/2018 03:07:00 PM

A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 24, 2018:

• Oil rigs let off again this week

• Total oil rigs fell, -9 to 860

• Horizontal oil rigs declined, -2 to 766
• Visual inspection suggests that rigs continue to roll off gently from here for the next several weeks.
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.