• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 17 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 2 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 7 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 1 hour Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 2 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Are you aware of Oil Price short videos on our energy topics?
  • 3 days NordStream2
  • 2 days Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT

Breaking News:

California Gasoline Prices Are Spiking

China To Coal Miners: Raise Production Now

China To Coal Miners: Raise Production Now

Chinese authorities have ordered 72…

Saudi Arabia: Patience Is A Virtue In Oil Markets

Saudi Arabia: Patience Is A Virtue In Oil Markets

Saudi Arabia appears confident that…

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




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News