S&P Global Platts Analytics announced the U.S. rig count for December 2017 was 1,030, down 23 (-2%) from November 2017, and up 321 (+45%) from December 2016. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.
December U.S. land rig count: 989, down 27 (-3%) from the previous month and up 317 (+47%) from December 2016
December U.S. inland waters and Gulf of Mexico rig count: 41, up 4 (11%) from the previous month and up 4 (11%) from December 2016
S&P Global Platts Senior Industry Analyst Trey Cowan said: “The appetite for shallow conventional wells waned during December and accounted for nearly the entire pullback in drilling activity during the month. But the fact that horizontal drilling continued at a stable pace over the holidays suggests that underlying prices of oil and gas are at levels that will likely cause the overall U.S. rig count to climb during 2018.”
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