Double or nothing for industry in early 2017

摘要

At year-end 2016 the Texas rig count was nearly double what it was in 2015, and the price of oil was double what it was in February 2016. The Baker Hughes rig count ended 2016 at 658 working rigs, which was only 40 fewer rigs than at year-end 2015. Texas was by far the leader in regaining ground lost in the downturn. At year-end 2016 there were 324 rigs turning to the right, nearly double the 173 rigs operating at year-end 2015.