EOA Rig Count Report
Watch offshore GOM!
MAIN TAKEAWAYS
The total number of rigs increased by 3 from the previous week (oil +5, gas -2). Given the new spending cycle, it’s likely that there will be further increases in the coming weeks.
The oil-directed rig count in tight oil plays increased by 3 week-over-week (WoW).
The oil-directed rig count in the Permian Basin increased by 3 to 353 rigs, the highest since early April 2020.
While high oil prices in 2022 failed to stimulate drilling activities in the Gulf of Mexico (GoM), the number of rigs increased by 3 last week to 19 rigs, the highest since March 2020.
IN DETAIL
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