EERC drops by 13
EnerCom released its monthly EnerCom Effective Rig Count today, for August, reporting an equivalent 2,353 rigs active in the U.S., down from 2,366 last month. The Effective Rig Count adjusts reported rig counts for increasing efficiency in drilling and completions.

Stubborn sub-$50 oil prices have caused drilling activity to decline slightly, meaning the effective rig count has also dropped by 13. Overall productivity also decreased slightly, as completions activity lags drilling. This is the first decrease in the Effective...

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