October 15, 2015 - 10:17 AM EDT
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RigData Releases Third Quarter Well Count Report

RigData released its Well Count report for the third quarter of 2015.

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 drilled.

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.

About RigData

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.

Gregory Tsichlis, 817-285-9600
[email protected]

Source: Business Wire (October 15, 2015 - 10:17 AM EDT)

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