The Oldest and Most Trusted Real Estate News Magazine

Oil Rigs Decline Slightly

By

A few comments from Steven Kopits of Princeton Energy Advisors LLC on September 21, 2018:

• Oil rigs declined, -1 to 866

• Horizontal oil rigs fell, -3 to 766

• Horizontal oil rigs are essentially unchanged in the last 14 weeks

• The Permian added 3 rigs, the Cana Woodford was hammered with a loss of 6 rigs

• The breakeven oil price to add horizontal oil rigs is now WTI, about the same as WTI.

• The model suggests horizontal oil rig counts will decline again next week.

Oil Rig CountClick on graph for larger image.

CR note: This graph shows the US horizontal rig count by basin.

Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.
Calculated Risk

Tags: , ,

Sitemap Madbadcat Graphics