• 17 hours Oil Falls As Trump Tweet Blasts OPEC
  • 21 hours Comey vs.Trump, Part 2: Comey's Memos. What's next?
  • 1 day Asian Oil Demand To Hit Record - The Price Per Barrel Continues To Grow
  • 2 days Vistra Energy Says Coal Won't Come Back
  • 1 day Trump's top energy adviser resigns
  • 1 day Walmart and VW's Electrify America Team Up To Build Massive EV Charging Network Across US
  • 1 day Net Income At Saudi Aramco Tops $33 bn in the first half of 2017!
  • 16 hours HAPPY RIG COUNT DAY!!
  • 16 hours Robot Completes Hardest Job Known to Man
  • 2 days Is Today's Tesla News Good or Bad?
  • 1 day Oil Prices To Fall Below $60?
  • 1 day New task force formed-to evaluate postal service
  • 17 hours Maduro Under Pressure: EU Says May Impose More Sanctions On Venezuela If Democracy Undermined
  • 16 hours Venezuela gives Oil Minister 'Extra Powers' to halt production decline
  • 17 hours The future of oil and gas exploration in New Zealand
  • 1 day will oil hold?
Alt Text

Iraqi Shia Militia Smuggles Oil Into Iran

Iranian backed militias are smuggling…

Alt Text

A Crisis At The Heart Of U.S. Shale

The Permian basin is the…

Alt Text

Permian Bottleneck Could Impact Global Oil Markets

Bottlenecks such as takeaway 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…

More Info

Trending Discussions

Rig Count: Capitulation?

Rig Count: Capitulation?

After last week’s moderate drop in rig count, the amount of horizontal oil rigs seems to implode this week.

The U.S. land rig count was down 37 this week and the land horizontal rig count was down 30.

Is this capitulation? Hard to say but it's the biggest drop since March 2015. And, the Fayetteville Shale play officially bit the dust this week with zero rigs for the first time since the play began in 2005.

The tight oil horizontal rig count was down by 20 and the key Bakken-Eagle Ford-Permian HRZ rig count was down by 14. The Bakken lost 3 rigs, the Eagle Ford, 4, and the Permian, 7.

Shale gas lost 8 HRZ rigs. The Haynesville lost 2, the Marcellus, 6, the Utica 1, the Fayetteville, 1. The Woodford and Barnett each gained 1 rig.

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

By Art Berman for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • Lee James on January 11 2016 said:
    Thanks for clearly reporting "horizontal oil rig count."

    I feel like drilling status got muddled over the last few years, mixing vertical rig activity together with horizontal, tight-rock rigs. Seems especially important in tracking extraction cost. Operations can look less expensive if you play rig-counts right.

    The U.S. domestic oil extraction industry needs to come-clean, in general, on cost. I feel like the industry is starting to acknowledge real and total cost, but isn't there yet. We've got a lot of investor hype to get over. Free cash flow is properly making its way to the forefront of our attention as we become less fixated on oil volume flow.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News