RigData US rig count took a hit this week, down (-20) from 488 to 468. US Permit Count also down, (-72) to 445.
Oil price swings amplify seasonal shifts by private operators in rig count, wells-per-rig efficiency metrics.
According to the RigData Locations & Operators Report, the U.S rig count rebounded from last week and grew to 660 rigs (+13).
As 2016 draws to a close, US oil and natural gas rig counts are on a steady uptick in the wake of higher commodity prices.