RE:$52.85Nessrookie wrote: Can it break the 100 day today Great article on the rig counts on oilprce.com It's like someone was reading my mind saying why doesn't someone write a little more about what it actually means and the world rig count BTE can it break its 50 day today? Not likely as someone needs to want to own it beyond retail investors. Wed if EIA is good then maybe
Yes that was a good read....one of the most interesting points was that 70% of the cost of bringing a new well into production is the completion cost - so drilling is only 30%.....and that some of drilling is due to leases near expiry. So much of the drilling going on now is just adding to the DUC inventory as opposed to completed wells.