RigData Insights

Private Companies Prove Resilience

  • Wednesday, January 11, 2017
  • Posted By Meagan Wildfong

011117chartSource: RADAR Report | January 5, 2017

 

Over the years large-cap operators have held the majority share of all active rigs in the US, followed by private operators. However, private companies have proven more nimble and capable of responding quickly during these times of market volatility, overtaking large-cap operators for the top spot, according to Platts RigData’s RADAR Report.

 

Over the course of 2016, private companies increased their share of active rigs by more than +10 percentage points, to a December market share of 45.7%. Additionally, private companies ended the year with 278 active rigs, which is +55 more than they had in December 2015. Large-cap companies, on the other hand, lost -6.3 percentage points of their market to a December 2016 rig share of 33.9%.  The December 2016 rig count for large-cap operators was -49 rigs fewer than the previous year’s 255 December average.

 

Call 1-800-627-9785 to subscribe to Platts RigData’s RADAR Report, the leading statistical monitor of overall land rig market activity and drilling trends by region, play, operator, driller, and many other proprietary metrics.

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