EOA Rig Count Report

MAIN TAKEAWAYS

The US oil-directed rig count decreased by 10, and it remains to be seen if the decline in the Permian’s oil rigs specifically was a blip or a new trend.

Meanwhile, new trends have been emerging in the Gulf of Mexico (GoM) where there has been a decline in the oil-directed rig count, and in the Permian where an increase in the gas-directed rig count has been recorded. The current gas rig count in the Permian stands at 9, which is the highest since mid-Dec 2015. Over the past 7 years, there has been no major drilling for natural gas in the Permian.  

IN DETAIL