The falling rig count is playing heavily into early 3Q17 conference call discussions, particularly after last week’s big drop. We’ve long thought this correction was expected, but reaction to the decline reminds us that nothing is ever truly “priced in” until it happens.
Here’s some context on where we’ve been, where we might be going, and how it compares to history.
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Drilling rig photo of the week from social media:
“Here in west Texas it’s windy, hot, and dry, but we’re blessed with beautiful sunrises and sunsets.” Yes, yes you are, Felix C.! Thanks for sending this beauty of Rig 142 our way. . . . #TrinidadDrilling #TrinidadRigFleet #DrillingContractor #Oilfield #OilandGas #OilfieldPhotography #DrillersClub #DrillingRig #WestTexas #Texas
162 Likes, 5 Comments – Trinidad Drilling (@trinidadtdg) on Instagram: “”Here in west Texas it’s windy, hot, and dry, but we’re blessed with beautiful sunrises and…”