Source: RADAR | February 16, 2017

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Is the US active land rig count getting ahead of itself? With the tally led by Permian Basin drilling activity (accounting for 41% of all US onshore drilling), Platts RigData further delves into its recent assertion that current oil prices might not justify the level of current drilling.

When indexed, the rig count has nearly doubled from its low last May, while oil prices still need to gain another $5/bbl to be just at parity with this change. This theme will be examined in more granular detail in this week’s issue of the RADAR Report.

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