Comment by
Oldnagger on Aug 27, 2023 7:32am
The last time that the rig count was similar to the present is February 2022. At that time ,Shale crude production was forecast at 700 million BPD less than today and nat gas 7 BCF per day less . If anything , drilling productivity has decreased since then as shown by the drilling productivity reports , thus the decrease in production will most likely be greater .