Active Rig Count - Jan 15

[dan_s]

The active rig count continues to fall in the United States. Down 14 to 650, compared to 1,676 a year ago.

Rigs drilling for oil: Down 1 to 515, compared to 1,609 in October, 2014 and 1,366 a year ago.

Rigs drilling for gas: Down 13 to 135, compared to 310 a year ago.

North Dakota: Down 2 to 47, compared to 156 a year ago
Texas: Down 7 to 301, compared to 766 a year ago

[bearcatbob]

The active rig count continues to fall in the United States. Down 14 to 650, compared to 1,676 a year ago.

Rigs drilling for oil: Down 1 to 515, compared to 1,609 in October, 2014 and 1,366 a year ago.

Rigs drilling for gas: Down 13 to 135, compared to 310 a year ago.

North Dakota: Down 2 to 47, compared to 156 a year ago
Texas: Down 7 to 301, compared to 766 a year ago

Dan, Can you also post from somewhere the international rig count. Using very round numbers - the US is 10% of the world total. Ergo a drop of 10% in us production is a drop of only 1% of world production. So far it appears to me that the fall in US production is not making any meaningful difference in world S/D balance.

Bob

[dan_s]

International active rig count can be found here: http://phx.corporate-ir.net/phoenix.zht ... countsintl

Total World
December, 2013 = 3,478
December, 2014 = 3,570
December, 2015 = 1,969

NOC and companies are slashing drilling budgets, so I expect it to drop by 50-100 per month through first half of 2016. Lots more jobs will be lost.