Tag Archives: rig count

In this weekly rig count update, we take a quick look at the rig count evolution of today’s two most important US onshore markets: West Texas and Oklahoma. You may remember the following chart from an update early this year when we wrote about the bifurcated Permian market place….   …

The recovery in oilfield service (OFS) activity and pricing outside the US has been waiting in the wings for three years. Outside the US, there have only been a few international bright spots – non-US oilfield growth has been non-existent. Most countries’ oilfield service markets have been dragging bottom all …

A new type of land rig is being proposed to tackle mega-pads in the very deepest sections of the Wolfcamp. In this post, check out the latest on operator interest as well as the features that make this rig unique and cost about 30% more than the current shale-ready rig …

Three of the largest US land drillers (together controlling 35% of the market) openly resisted the downward trending rig count last week. The US land rig count fell in 9 of the last 12 weeks and is off 5% from peak. The prevailing view has been that this decline would …

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, …

Starting this week, we begin an analytical tour around basins outside the Permian. The focus feature in each of our regular weekly rig count updates over the next couple weeks will provide an overview on D&C activity trends in key basins beyond West Texas. Here are five Marcellus Shale charts …

The US land rig count peaked most recently on August 4, 2017. Since then, it is down 21 rigs and down again slightly this week. Without the Permian Basin, it’d be down even more. There’s a lot more to this story… Login to see the full update…  To read this …

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 …

During the third quarter, the US onshore rig count trajectory has finally leveled off. We wrote about the stall a couple weeks ago in this update.  Speaking at an investor conference last week, two leading land drillers shrugged off the industry-wide rig count stall. See what they said in the …

In an unusual step, Baker Hughes declared Friday that an update on South Texas rig count was impossible to capture last week due to Hurricane Harvey. New drilling permits show the impact though… and we quantify that in this update. There’s a lot more to this story… Login to see …