Active Rig Count - Jan 22

[dan_s]

The U.S. active rig count continues to fall as drilling budgets have been slashed.

U.S. total active rig count down 13 to 637, compares to 1,633 a year ago. < My SWAG is that the active rig count will fall to 500 by 3/31/2016.

Rigs drilling for oil down 5 to 510, compared to a peak of 1,609 in October, 2014
Rigs drilling for gas down 8 to 127, compared to 316 a year ago

Gulf of Mexico rigs up 3 to 29, compared to 53 a year ago.

[dan_s]

Schlumberger Ltd Chief Executive Paal Kibsgaard said a "significant" recovery in oilfield activity was not expected until 2017. "We still expect positive movement in oil prices during 2016 with specific timing being a function of the shape of the non-OPEC decline rates," he said.

Read: https://finance.yahoo.com/news/schlumbe ... 08433.html