RigData Insights

RigData 1Q 2016 Well Count Released

  • Monday, April 11, 2016
  • Posted By

The ongoing rig count collapse has slashed RigData’s quarterly well count by another -43%, or 1,577 wells, in the first quarter of 2016 vs. 4Q 2015.

Compared with a year ago, the latest tally of 2,120 new well spuds represents a plunge of -65% from 5,989 in 1Q 2015. Hardest-hit among the major plays was the Fayetteville Shale, plummeting to zero wells in Q1, while at the other extreme, the Barnett Shale saw zero change QTQ.

Among the unconventional oil plays, the Permian Basin’s Wolfcamp and Wolfberry fared best with QTQ drops of only -11% and -20%, respectively.

 

WellCount1Q16

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