EOA Rig Count Report

In 17 weeks, Permian oil-directed rig count declined by 41 (7 charts).

MAIN TAKEAWAY

• Averages are misleading

• The oil-directed rig count in tight oil plays declined by 1 to 428, the lowest since February 2022 (Figure 3). In other words, we are back to the pre-Russian invasion of Ukraine level.

IN DETAIL