Source: RADAR | April 27, 2017
The pie for US public drillers remains the same size, but the slices keep getting bigger.
With the acquisition of Seventy Seven Energy by Patterson-UTI completed last week (and with it the assimilation of Seventy Seven unit Nomac Drilling by Patterson), the number of sizable public drillers running rigs in the US onshore market has fallen to 8—exactly half that of 20 years ago, according to Platts RigData’s weekly RADAR Report.
However, the public drillers’ market share of the active land rig count remains precisely the same—62%—as it was in 1997. For a detailed analysis of the combined Patterson-Nomac US land rig fleets, see the cover article in the RADAR Report this week, scheduled for publication April 27.
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