• Oil Rigs: "Treading water"

    1 month ago - By Calculated Risk

    A few comments from Steven Kopits of Princeton Energy Advisors LLC on September 14, 2018:
    • Oil rigs gained, +7 to 867
    • Horizontal oil rigs were up, +3 to 769
    ...
    • Horizontal oil rigs counts are essentially unchanged in 13 weeks
    • The Permian has been flat for six weeks, and is only 4 horizontal oil rigs higher than three months ago.
    • The breakeven oil price to add horizontal oil rigs came in at $72 WTI this week. This is a good bit higher than the current WTI price around $69.
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