Well here is some history
1. Note we are trending roughly the same line at 2002 through 2009
2. Note we started below 2002 due to the COVID drop...therefore we are only NOW at 2002 rig levels
3. From here if we continue to follow the same trend line it will take (roughly) 7 years
***important****
4. This ASSUMES oil companies get to it right away and don't shy away from CAPEX due to the historical trauma....(this is debateable)
5. This ASSUMES supply chain is just as good as before and we don't have any delays (well we all know supply chain is a disaster right now)
So when people tell you how is the rig count going focus on the below....history repeats itself....and if you believe that...we have at least 7 years to go..of course assuming oil companies as of right now shift to capex and in the next 30 days supply chains around the world are fixed.
I will bookmark this and repost to keep people aware every Friday
