EOA Rig Count Report

News: DOE Purchase of 3 mb for SPR

SPR: DOE Announces 6 Million Barrels for Strategic Petroleum Reserve Replenishment

Here is a short Twitter thread with Comments on the topic:

https://twitter.com/anasalhajji/status/1667255568837271553

Bottom Line: Nothingburger

MAIN TAKEAWAY

• The oil rig count halted its declining trend.

• The gas rig count in the Haynesville basin remains on a downward trajectory. As we stated in last week’s report, this drop may raise questions about the future of US LNG supplies.

• The rig count remains robust in the Gulf of Mexico.

IN DETAIL