EOA Rig Count Report

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We flag up here the large decline in the oil-directed rig count in the Permian: Is it a blip or the start of a new trend?  If it is about crude quality, it is a blip, but if this is linked to oil prices, then it may become a trend. We will know for sure in the next two weeks.

In our previous reports, we said that the increase in drilling activities in the Western flank of the Permian resulted in a large increase in condensate production, which affects the economics of these wells. We also noted that history shows us that when companies are faced with such a problem, they change their drilling plans.