RigData Insights

Continental & EOG Hold Steady With Their Rig Fleet

  • Thursday, April 14, 2016
  • Posted By Unknown

The US active land rig count continued to be decimated in Q1, reports RigData’s Land Rig Newsletter. The active US land rig count fell by -84 rigs, or -17.7%, to a total of 391 working rigs in March when compared to February. 


This was the third straight month with more than -80 rigs declining. After starting the year with January losing -84 rigs, February saw a loss of -85, and March sent another -84 rigs to the yard.  Operators who employ 10 or more rigs dropped the largest percentage and number of rigs vs. the other two rig fleet categories, releasing 45% of their active rigs in March vs. the previous month.


Additionally, four of the operators who employed 10 or more rigs in February—including ConocoPhillips (-6), Newfield (-4), Marathon (-4) and Cimarex (-1)—dropped to the 4–9 rigs fleet category.  Of the four remaining members of the 10+ rigs fleet group, both Continental and EOG held steady rig counts, while ExxonMobil and Pioneer Natural trimmed back their efforts.






Forgot your password?

Retrieve Your Password

Enter your email address and we will send you an email with instructions to reset your password.