RE:Rigs were +10 WoW because it was a moving daythe shale players are able to keep the rig count low by burning up the DUCs. I look at the DUCs as a subsidy from the drill baby drill days of free money. The DUCs will disappear as the hedges roll over, so the shale plays will benefit from a less hedged position, but their cost will go up to pay for the new drilling.
I also wonder if the most-productive zones are tapping out at all. not all shale plays are equal.