• Oil Rigs: RIg counts move sideways, again

    9 monthes ago - By Calculated Risk

    A few comments from Steven Kopits of Princeton Energy Advisors LLC on September 7, 2018:"That's all, folks!"
    • Oil rigs declined, -2 to 860
    • Horizontal oil rigs gained, +1 to 766
    • Horizontal oil rigs have gone exactly nowhere in the last 12 weeks
    • The breakeven oil price to add horizontal oil rigs continues to creep up, now around $74 WTI. This is a good bit higher than the current price around $67.
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