US Land Rig Count in 2014: Robust Activity; 2,000 Count Unlikely; More Rig Retirements Ahead

摘要

The US active land rig count has grown by almost 200 units this year (see Market Dynamics, p. 6). That's noteworthy because the last time the rig count increased by a comparable amount was 2011—and that took 9 months, not 8 as was the case this year. Prior to that, the rig count jumped by even more in 2010 and 2008, but those were anomalous years—recovery from a bust and a ramp-up during a boom, respectively.