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  • February 16, 2018

    February 16, 2018

    16th February 2018

    Oil Drilling Activity

    Onshore US drilling activity decreased by 1, and stands at 956.  Rigs targeting oil increased by 7, with the total now standing at 798. The indicators that suggest continued growth in the US are in alignment, with rising prices leading, after a few months, to more drilling, more completions and more production.   

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  • February 9, 2018

    February 9, 2018

    9th February 2018

    Oil Drilling Activity

    Onshore US drilling activity showed a significate increase of 28, and stands at 957.  Rigs targeting oil increased by 26, with the total now standing at 791. Shale operators, with the US Majors now scaling up their investments, are beginning to invest the cash flow that higher crude price is providing. 

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  • February 2, 2018

    February 2, 2018

    2nd February 2018

    Oil Drilling Activity

    Onshore US drilling activity was flat, and stands at 929. Across the three major unconventional oil basins, the oil rig total increased by 1 in the Williston. Rigs targeting oil increased by 6, with the total standing at 765.  Rig numbers continue to support the view that US shale oil producers have stopped chasing record production numbers and have become more focused on profitability.

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  • January 26, 2018

    January 26, 2018

    26th January 2018

    Oil Drilling Activity

    Onshore US drilling activity increased by 13, and now stands at 929. Across the three major unconventional oil basins, the oil rig total increased by 18, all in the Permian. Rigs targeting oil increased by 12, with the total standing at 759. With U.S. crude production at 9.85 million barrels per day and forecasted by EIA to cross 11 million barrels per day in 2019, the continued strength of the shale boom is far from certain as companies promise shareholders that their strategies pursue profit over just volume growth. 

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  • January 19, 2018

    January 19, 2018

    19th January 2018

    Oil Drilling Activity

    Onshore drilling activity decreased by 3, and now stands at 916. Across the three major unconventional oil basins, the oil rig total increased by 1. US rigs targeting oil dropped by 5, with the total standing at 747. US shale operators continue to show constraint as they hold back from adding oil rigs above 750.  

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  • January 12, 2018

    January 12, 2018

    12th January 2018

    Oil Drilling Activity

    Onshore drilling activity increased by 13, now at 920, the highest since last September. Across the three major unconventional oil basins, the oil rig total has a slight increase by 3 in the Permian. US rigs targeting oil increased by 10, with the total standing at 752. 

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  • December 22, 2017

    December 22, 2017

    22nd December 2017

    Happy Holidays ... The Monitor will return on January 12, 2018.

    Oil Drilling Activity

    Onshore drilling activity increased slightly, up 1 this week, at 910. Across the three major unconventional oil basins, the oil rig total increased by 2. US rigs targeting oil was flat, with the total holding at 747. US operators continue to show patience as crude prices continue to hold below US$60 (WTI) per barrel; rig direction for 2018 could be decided in Texas ... keep an ardent eye on Texas onshore rig growth!

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  • December 15, 2017

    December 15, 2017

    15th December 2017

    Oil Drilling Activity

    Onshore drilling activity remained flat, bringing to a halt a five-week upward trend, at 909.  Across the three major unconventional oil basins, the oil rig total decreased by 2. US rigs targeting oil dropped by 4, with the total standing at 747. US operators continue to show patience as crude prices continue to hold below US$60 (WTI) per barrel.

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