EOA Rig Count Report

In 10 weeks, Permian oil-directed rig count declined by 31 (6 charts)

MAIN TAKEAWAY

• Permian’s oil-directed rig count continued to decline. It is at its lowest since April 2022. The Permian lost 31 oil rigs in the last 10 weeks.

• At this point rig counts are almost where they were before the Russian invasion of Ukraine.  Should we look at this as a return to normalcy?

• No decline in rig count in Haynesville. Is this the bottom?

IN DETAIL