Friday, November 4, 2016

Rig Count 40% Above Recent Lows

U.S. rig counts have seen a pretty strong recovery since late spring/early summer.  Oil rigs have risen by 134, or 42%, from the historic low spot in late May, while gas rigs have increased by 35, or 43% over the same period.

While the percentage increases seem high, the actual rig count is still quite low by historical standards.

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