Drilling Activity

Rig Count Declined This Week to 1842 from 1855

Welcome back from Thanksgiving! It is time to get the last remaining items accomplished by the end of the year! If you were busy eating turkey and shopping, then you may be jolted back into the market's reality today. US onshore rig count down to 1842, -13 from last week Rig counts declined this week to 1842 from 1855 last week for US lower 48 onshore rigs.  The decline is not substantial but Friday's events in the market were a surprise for many...

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Eagle Ford down 17 Rigs Compared to Last Year

Rig count remains an important indicator of oil and gas activity; however, the drops in oil prices reflect a changing dynamic in the industry. With oil prices declining, many expect to see rig count drop significantly by the end of the year. Our view is that there will likely be some leveling off this year but not a significant amount until 2015 budgets are set.This week Permian Basin is -3 compared to last week and +95 compared to last year at...

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Are Rumblings of Rig Count Declines True?

Rig count remains an important indicator of oil and gas activity; however, the drops in oil prices reflect a changing dynamic in the industry. With oil prices declining, many expect to see rig count drop significantly by the end of the year. Our view is that there will likely be some leveling off this year but not a significant amount until 2015 budgets are set.This week Permian Basin is +1 compared to last week and +98 compared to last year...

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Permian Basin Leads with 560 Rigs

Oil prices started declining this week and the "market experts" are proposing doom and gloom scenarios. While $30-60 oil is possible we do not believe that it is likely given today's market conditions. Uncertainties are in every facet of the conversation - global demand, terrorism, OPEC pricing, US energy independence. Each uncertainty is dynamic, fluid, and ever changing.We watch the all aspects of the supply chain across O&G to get a measure of activity and velocity of operator's exploration and...

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