Active Rig Count - Feb. 19

[dan_s]

Baker Hughes reports that the North American active rig count dropped by another 43 rigs last week. WOW!

United States:
> Number of rigs drilling for oil declined by 26 to 413, compared to 1,019 a year ago (peaked at 1,609 in October, 2014)
> Number of rigs drilling for gas declined by 1 to 101, compared to 289 a year ago.
> Gulf of Mexico stayed the same at 25, compared to 52 a year ago.

Canada: Total rig count declined 16 to 206, compared to 360 a year ago.

Several of our Sweet 16 have announced that they are going to drop rigs from Q1 to Q2.
> Cimarex originally planned on running 16 rigs in 2016, now they have decided to drop from 11 today to 4 by Q2
> Concho announced that they are going from a 24 rig program to 12 by Q2

[mkarpoff]

Do you typically re-evaluate these companies after they announce drilling slow downs?