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U.S. Sanctions Could Add $50 To Oil Prices

Underinvestment and low spare capacity…

Arthur Berman

Arthur Berman

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and…

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Horizontal Land Rig Count Summary 26 February 2016

Horizontal Land Rig Count Summary 26 February 2016

The horizontal rig count fell 18 to 397 while the total land rig count fell by only 14 to 473. It happens sometimes.

The biggest losers this week were in tight oil plays. The Eagle Ford lost 6 rigs, the Permian, 5 and the Bakken was unchanged. Shale gas lost 2 rigs. The Haynesville lost 2 rigs, the Utica, 1 and the Woodford gained 2 rigs.

(Click to enlarge) 

So far this year, among the tight oil plays, the biggest loser of total rigs is the Permian, down 38 (22%) horizontal rigs. The Eagle Ford is down 28 (38%) and the Bakken is down 17 (32%).

Among the shale gas plays, the Haynesville has lost the most total rigs at 13 (54%). The Marcellus is down 11 (36%), the Woodford, 5 (11%) and the Utica, 4 (25%). The Fayetteville lost its final rig in the second week of January.

By Art Berman for Oilprice.com

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