RigData US rig count took a hit this week, down (-20) from 488 to 468. US Permit Count also down, (-72) to 445.
The US active land rig count continued to be decimated in Q1, reports RigData’s Land Rig Newsletter.
The ongoing rig count collapse has slashed RigData’s quarterly well count by another -43%, or 1,577 wells, in the first quarter of 2016 vs. 4Q 2015.
US land rig count bounces back after months of decline. Up +15 from 417, to 432. Texas leads the way with 8 additional rigs this week.