• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 10 mins Joe Biden's Presidency
  • 16 mins Biden suspends oil and gas drilling on Federal Lands for 60 days for review.
  • 2 hours So Is COVID a Media Hoax or Not?
  • 16 mins China sends warplanes thru Taiwan airspace. Joe's reponse . . . .
  • 18 mins a In 2020, we produced and delivered half a million cars.
  • 6 hours Parler’s New Partner Has Ties to the Russian Government
  • 2 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 1 hour JACK MA versus Xi Jinping
  • 8 hours Thanks to food countersanctiona after 2014 Russia become net exporter of food
  • 4 hours GENERAL NORMAN SCHWARZKOPF: The Third Tour
  • 4 hours Minerals, Mining and Industrial Ecology
  • 17 hours Did I Miss Something?
  • 21 hours The Debate Starts : Remake Republican Party vs. Third Party
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

Premium Content

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:


Download The Free Oilprice App Today

Back to homepage





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