A few comments from Steven Kopits of Princeton Energy Advisors LLC on Aug 25, 2017:
• Continued decline in rig counts
• Total US oil rigs were down 4 to 759
• Horizontal oil rigs were down 3 at 647
…
• Drilling Info is showing more optimistic rig numbers than Baker Hughes• Thesis is unchanged: Expect rigs counts to roll off for the next three months or so, with oil prices languishing in the $46-49 range typically
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.