EOA Rig Count Report

Oil-directed rig count in tight plays is increasing (with 7 charts)

MAIN TAKEAWAY

The expected uptick rig count happened, but it was small and slow in reaction range-bound oil prices.  If the positive sentiment that we see today last, we will see a larger increase in the oil rig count especially in the Permian.

However, the rise in oil prices could be a crisis for the gas market as more associated gas in produced regardless of gas prices. 

IN DETAIL