RigData Q1 Counts of Wells & Wells Per Rig Suggest Skewed Efficiency Perspective Without Context

摘要

Our latest quarterly estimate of the number of new well spuds warrants some clarification of what could otherwise be misconstrued as a significant decline in US drilling efficiency. RigData's quarterly well count, released earlier this month, underscores how the oil and gas industry continues to be affected by glutted markets and depressed commodity pricing in many ways. We are all familiar by now with the declining US rig count and the havoc the downturn has unleashed on both oilfield service companies and operators alike.