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 …
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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 …
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In our latest US onshore rig count forecast (updated in April), we estimated that active drilling rigs would peak at 950 units this year. As we stand today with 934 rigs turning to the right, our prediction leaves only ~16 rig additions left until hitting a US drilling plateau in …
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The combination of greater per rig retrofit investments and expanding inventory of upgrade candidates is the equivalent of newbuilding without building new. This kind of spending invites a whole crowd of previously shunned rigs into the exclusive super-spec club. There’s a lot more to this story… Login to see the full …
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Yesterday morning, EQT consolidated the Marcellus Shale by acquiring Rice Energy for $6.7bn in a deal that creates the largest natural gas producer (>3Bcfpd) in the US. The deal is expected to close in 4Q17. The combination and new strategic direction for the combined operator has material implications for the …
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In the recent past, US and Saudi drilling programs have exhibited an inverse relationship. The Saudis ramped aggressively into the downturn, and maintained elevated drilling levels while the US rig count crashed. Now as the US is ramping aggressively, the Saudis have toned things down a bit. Feature image credit: Instagram user …
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Infill Thinking Lifting the O&G knowledge curve
