Rig count updateRig counts are once again down from last week and more importantly way
down from a year ago.
And like i said last week
There is a lot more factors to consider than just rig counts(completion, seasonality,
efficency(Pad drilling)output/ wells ...etc and most importanly
supply / demand balance.
But at one point in time,less drilling will or should equat to less production
USA -10 to 642. They were 765 at the same time last year.
Canada +1 to 190.They were 201 at the same time last year.
P.S.Good post Matt2018.I could not have said it better and thanks
Clemxb7.I was able to find the chart of your post.I agree with M.McCrea, valuations are dirt cheap.
Nice weekend to all