EOA Rig Count Report

MAIN TAKEAWAYS

Although the US oil-directed rig count decreased, the total oil and gas rig count was flat, including in tight oil plays. It was in the Gulf of Mexico where a decline in oil rig count was mostly recorded.

In a major twist, the Permian added 4 gas-directed rigs, the highest weekly addition in 10 years.  The current gas rig count stands at 7, which is the highest since the end of 2015. Over the last 7 years, there was no major drilling for natural gas in the Permian.  

IN DETAIL