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Biweekly U.S. Oil Rig Count Update – 5/13/15

  • May 13, 2015
  • by wbabler
According to Baker Hughes, U.S. oil rig counts continue to decline, falling by 24 in the week ending May 1st and an additional 11 in the week ending May 8th to a total of 668. The weekly declines were the 21st and 22nd in a row, although the rate of the declines has decelerated off of recent highs experienced in late January and early February. Overall, the total U.S. oil rig count fell to a new four and a half year low however, despite the decline in oil rigs, crude oil production has continued to remain strong. U.S. Oil Rig Counts Continue to Fall in Response to Depressed Crude Oil Prices Weekly Total US Oil Rig Count vs Crude Oil Price - May 13 U.S. Oil Rig Counts Peaked in Late 2014, Prior to the Recent Declines Weekly Total US Oil Rig Count vs Crude Oil Price2 - May 13 May 8th U.S. Oil Rigs Declined 1.6% From the Previous Week and are Down 56.3% YOY Weekly Total US Oil Rig Count - May 13 The Recent Decline in U.S. Oil Rig Counts Since the Nov ’14 Peak has Been Significant US Oil Rigs - Decline from Recent Peaks - May 13 Vertical Rigs Have Recently Declined the Most on a Percentage Basis, Reaching New Lows Weekly US Oil and Gas Drilling Rigs by Type - May 13 Crude Oil Production Remains Strong, up 11.2% YOY Weekly Total US Oil Rig Count vs Crude Oil Production - May 13 Crude Oil Production per Rig Continues to Accelerate, Reaching a New Five Year High US Crude Oil Production per Rig - May 13 Resilient Production Despite a Collapse in Price & Rigs on Same Trajectory as ’08 Natural Gas US Crude Oil vs Natural Gas Declines - May 13
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Atten Babler Risk Management LLC
11406 US Route 20 W
Galena, IL 61036
800-884-8290
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