Infill Thinking Lifting the O&G knowledge curve
Each winter, we look forward to unwrapping the annual rig census report released by National Oilwell Varco. With it’s uniquely comprehensive rig market history, the report provides good perspective on the competitive landscape for drilling rigs around the world.
There were no surprises on the demand side this year – historically low rig counts have been covered ad nauseam. Not surprisingly, the 2016 survey tallied the lowest reported land rig counts in North America for any year on record. On the other hand, the supply insights were interesting. NOV tracks rigs exiting and entering the market as well as availability across detailed rig classifications.
The full report takes some time to digest, so we’ve prepared a cliff notes version for subscribers in this update, highlighting five things that stood out to us during our review this week. Subscribers are welcome to an excel file containing our charts and the supporting data – email us at [email protected] to request your copy.
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