RigData released its Well Count report for the third quarter of
The data indicates, as one would anticipate, that the general industry
environment continues to depress well counts in almost all of the plays
between the second and third quarter of this year.
“In Q3, the well count dropped by 7% from Q2. While a significant
improvement over the 19% quarter-to-quarter decline seen in Q2, it
reflects almost entirely a 346-well gain in the ‘Other’ category of
wells not included in the portfolio of plays we monitor each week,” said
RigData Director of News and Analysis, Bob Williams.
Other comparisons of interest indicate that the Q3 2015 YOY well count
versus Q3 2014 is down 55%, which translates into 5,410 less wells
Williams notes, “Under closer examination of the ‘Other’ category, we do
see an uptick of vertical wells in California and Texas driven by
operators taking advantage of rebounding oil prices in late Q2 and early
Q3 and by collapsing day rates for sub-1,000 horsepower rigs.”
The RigData Well Count is available at no cost. To download the
report, register at rigdata.com/wellcount.
RigData is the oil and gas industry’s source for accurate and timely
information pertaining to drilling activity in the onshore United
States, the US Gulf of Mexico and Canada. For over 25 years, the oil and
gas industry has relied on RigData reports for its comprehensive and
unparalleled reporting on drilling permits, drilling activity and
tracking drilling rig locations.
For more information, visit rigdata.com.
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Copyright Business Wire 2015
Source: Business Wire
(October 15, 2015 - 10:17 AM EDT)
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