EOA Rig Count Report

MAIN TAKEAWAYS

• The decline in oil drilling activities last week might be temporary. Companies have to drill to, at least, maintain production.

• The total number of rigs decreased by 4 from the previous week (oil -10, gas +6).

• The oil-directed rig count in the tight oil plays decreased by 3 week-over-week (WoW).

• The oil-directed rig count in the Permian Basin decreased by 2 to 351 rigs.

• The oil-directed rig count in the Gulf of Mexico (GoM) decreased by 3 last week to 16 rigs.

IN DETAIL