Oil-directed drilling gained in 2009

摘要

Rigs drilling for oil roughly doubled their market share in 2009. The rebound in overall rig demand that began last May was driven in large measure by improving prices for crude. The oil price rebounded in 2009, rising from a weekly average WTI spot price low of $32.98/bbl in December 2008 to a high of $80/bbl by October 2009. Since that time, the price has been mostly range-bound at $70-$80/ bbl. Meanwhile, gas-directed drilling remained relatively flat through the summer cooling season (May through August), averaging around 635 gas rigs/month, and began to grow in September as the winter heating season came into view.