EOA Rig Count Report
It IS ALL ABOUT THE PERMIAN!
MAIN TAKEAWAYS
The US number of oil and gas rigs declined by four from the previous week (2 oil, 2 gas).
The oil-directed rig count in tight oil plays was flat week-over-week (WoW)
The industry responded steadily to higher oil and natural gas prices.
Shale oil wells are producing a large amount of natural gas, which contributed to the decline in the natural gas rig count.
When it comes to growth in drilling activities, it is mostly about the Permian.