Platts RigData will release the Quarterly Well Count this Friday, January 13. A few noteworthy findings include the quarterly rig count increased by 24 % in 4 Q 2016 versus 3 Q 2016. However, total well counts increased 17 % over the period.
Studying the report one can find that this disparity between rig count and well count is due to the significant percentage of new wells being unconventional drills with the average days per well higher; in fact the average days per well increased to 17.3 days per well in 4 Q which represents a decrease in wells drilled per rig from 5.6 in 3 Q 2016 to 5.3 days in 4 Q.
The report is a free offering from Platts RigData. Sign up to receive the full report at rigdata.com/well-count-report or call 800-371-0083.