Previously in our weekly rig count series, we noted that the Permian horiztonal rig count equals eight other large shale plays combined. Today, we extended this thought exercise to spending, dusting off our capex model to see how Permian drilling and completion budgets factor into total US and global E&P …
Read More »US Land Drilling Breaks Through The 1,000-Rig Barrier. How High Can Rig Count Go?
This is the latest edition of our regular weekly rig count update filled with charts and analysis on North America onshore drilling trends. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you must be a member. …
Read More »The Permian Rig Count Has Moved Higher Despite A Permitting Plateau
In our weekly rig count update this week, we slice and dice the latest drilling permit data in the Permian, divining clues about the future direction of the rig count in the Permian Basin and beyond. There’s a lot more to this story… Login to see the full update… To …
Read More »Talk Among US Independents Suggests A Flat Rig Count, With Some Operators Planning Reductions
With the flurry of E&P earnings reports last week came lots of talk about 2018 drilling programs. If we had to boil down all the drilling rig market commentary we heard into a key takeaway, it’d be this: There’s a lot more to this story… Login to see the full …
Read More »Land Drillers Are Staying Out Of The Newbuild Yards, Focusing On Idle Rig Upgrades Instead
In our weekly rig and frac spread count update this week, we parse through a land driller’s 2018 rig upgrade program to delineate some critical 2018 onshore drilling market trends. There’s a lot more to this story… Login to see the full update… To read this update and receive our …
Read More »New Addition To Our Weekly NAM Rig Count Update: The US Frac Spread Count
Infill Thinking readers rely on our weekly rig count update for a series of unique land rig drilling charts and analysis. Going forward, we are adding a new weekly chart to document completions activity trends. Our friends at Primary Vision have agreed to make their weekly US frac spread count …
Read More »Land Rig Pricing Power Returns In 2018 – H&P Is Raising Dayrates [Chart]
The US onshore value chain is firing on all cylinders in 2018. Not to be left out of the double digit inflation completions suppliers expect to enjoy this year, land drilling contractors with super spec rigs are pushing through their own pricing increases. Check out our estimates for H&P’s high spec …
Read More »South Texas Drilling Permits Bounce Back Quickly Following A Brief Harvey Hiatus
In this update we examine drilling permit data for South Texas to infer how the storm and subsequent flooding has impacted drilling rig demand in the region. There’s a lot more to this story… Login to see the full update… To read this update and receive our research newsletters, you …
Read More »Four US Land Drillers Own More Than Half The Active Rigs [Market Share Charts]
The US onshore rig market continues to consolidate not because of M&A but thanks to the dominance of horizontal drilling and rig specification escalation. In the four charts below, we share a time series of market share charts for Nabors Industries, Patterson-UTI, Helmerich & Payne and Precision Drilling. There’s a …
Read More »First Look At 2018 US E&P Capex & Rig Count: Flat At The Current Strip?
While the majors talk capex in terms of multi-year programs, the Independents that drive the Lower 48 drilling & completion markets are usually reticent to discuss specific year-ahead capex details until budget season (late-4Q / early 1Q). Last week an Independent talked specifics on their 2018 development plan – one …
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