Active Rig Count

[dan_s]

Baker Hughes has just report another big drop in the active rig count as of 2/6/2015.

U.S. total down another 87 to 1,456 (41 less in Texas to 654) < Biggest drop is in the Permian Basin
Canada down another 13 to 381

Of the 100 decline, 83 rigs were drilling for oil and 80 were horizontal wells.

My guess is that the active rig count will drop to at least 1,000 by April. At that level there is NO WAY for U.S. production not to go on decline later this year. Once the U.S. goes on decline, the world goes on decline.

For details see: http://phx.corporate-ir.net/phoenix.zht ... portsother