Private Companies Increasing #drilling Efforts #drill #projectmanagement #oilservicesequipment

By 29th June 2015 Industry News No Comments

For the first time this year, the active rig count has stayed the same week-over-week, remaining at 787 for the first 2 weeks of June, according to RigData’s RADAR Report.

Operator Insight

While Majors, Large Cap, and Mid Cap operators continue to shed rigs, private companies have increased their drilling efforts. The tally for private companies grew by 20 rigs since the May 29 issue of the RADAR Report, which directly correlates with the growth in operators that have 3 or more rigs running.

Regional Color

The ArkLaTex, Midcontinent, and the Rocky Mountain regions all showed strengthening active rig counts. However, the Gulf Coast, Permian Basin, and South Texas regions saw declines since the end of May.

Driller Rig Utilization

Comparing drillers’ utilization rates YOY shows a pretty significant decline. Marketed utilization rates at mid-June averaged 59% compared to last year’s 86% for the same period. When floating rigs are included, utilization rates improve to a current average of 63%, but last year showed a much more appealing average of 92%.
Source: Industry News {$excerpt:n}