Projected rig count increases for 2022 may not keep pace with demand: Patterson CEO

摘要

Projected 2022 US rig count increases of 20%-25% to roughly 540 maynot be enough to accommodate demand based on upstream producerstatements about their drilling needs for next year, the top executive ofUS land driller Patterson-UTI said Oct. 28.As a result, rig levels around 650-700 that some have predicted forthe domestic market in 2022 may not fully offset petroleum demandgrowth, CEO Andy Hendricks said during a third-quarter company call.