Onshore Drilers
Posted: Mon Jul 28, 2014 11:18 am
The US drilling rig count shot up 12 units to 1,883 rigs working during the week ended July 25, Baker Hughes Inc. reported. Land rigs gained 9 units to 1,805 and offshore rigs gained 3 units to 60. Rigs drilling in inland waters were unchanged from a week ago at 18. Oil rigs were up 8 units to 1,562 while gas rigs were up 3 units to 318. Rigs considered unclassified edged up a unit to 3 overall.
I continue to see positive for the onshore drillers. This is also good news for the frac sand companies.
I continue to see positive for the onshore drillers. This is also good news for the frac sand companies.