EOA Rig Count Report

MAIN TAKEAWAY

• The large decline in the oil-directed rig count in the Permian could be related to a change of location, as we have seen before, instead of being influenced by oil prices or the budgets of energy companies. We will know for sure in a week or two.

• As our readers know, we have been (and are still) bullish on offshore activities.  We are happy to report that the rig count in the offshore Gulf of Mexico (GoM) is at its highest since March 2020

IN DETAIL (5 Charts)