Effective Rig Count drops to 2,771: Permian oil growth slowing
EnerCom has released its latest Effective Rig Count, examining the state of drilling activity in major shale basins.

The Effective Rig Count fell to 2,771 in July, marking the first decline in the EERC since the downturn bottomed out in May 2016. The EERC expresses current activity measured in terms of rig production efficiency that was generated in January 2014, demonstrating how far the industry has come since the beginning of the downturn.

While reported rig counts in most...

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