A few comments from Steven Kopits of Princeton Energy Advisors LLC on Apr 20, 2018:
• Total US oil rigs were up, +5 to 820
• Horizontal oil rigs were up,+6 at 723
• Almost all the action was back in the Permian, +9 horizontal oil rigs
• The breakeven oil price to include rigs appears to have crept up from around $48 WTI late last year, to about $56 WTI now.
• The Brent spread remains above $5 / barrel
CR note: This graph shows the US horizontal rig count by basin.
Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors LLC.