This week’s rise in oil rig count marked the fifth increase in the past seven weeks, and the highest increase since April 25, 2014. In fact, this was the highest weekly rig count since January 2005.
EERC drops sharply EnerCom has released its latest Effective Rig Count, linking the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count dropped by 83 in December, meaning the effective rig count now stands at 2,762. This means that the new production in December would have required 2,762 rigs from January 2014[Read More…]
