Active Rig Count - Jan 29
Posted: Fri Jan 29, 2016 2:09 pm
The number of rigs drilling in the United States fell by 18 last week.
> U.S. rigs drilling for oil: Down 12 to 498 < My SWAG is that it will drop below 400 in Q2
> U.S. rigs drilling for gas: Down 6 to 121 < We need ~300 rigs drilling gas in the U.S. just to hold production flat
In October, 2014 the number of rigs drilling for oil peaked at 1,609.
Production declines in the U.S. for both oil & gas will accelerate as we move through 2016. There are a couple of Gulf of Mexico production facilities coming on-line that will soften the blow a bit.
International Active Rig Count (including the U.S.) fell by over 44% from 2014 to 2015. It continues to fall.
For details go to: http://phx.corporate-ir.net/phoenix.zht ... portsother
> U.S. rigs drilling for oil: Down 12 to 498 < My SWAG is that it will drop below 400 in Q2
> U.S. rigs drilling for gas: Down 6 to 121 < We need ~300 rigs drilling gas in the U.S. just to hold production flat
In October, 2014 the number of rigs drilling for oil peaked at 1,609.
Production declines in the U.S. for both oil & gas will accelerate as we move through 2016. There are a couple of Gulf of Mexico production facilities coming on-line that will soften the blow a bit.
International Active Rig Count (including the U.S.) fell by over 44% from 2014 to 2015. It continues to fall.
For details go to: http://phx.corporate-ir.net/phoenix.zht ... portsother