And now, back to the Permian Show

  • Total US oil rigs were up 1 to 862
  • Horizontal oil rigs added 5 to 763
  • The 4 wma for horizontal oil rig additions rose to +4.5 / week
  • The Permian gained 7; the Cana Woodford gave back 3
  • Since last July’s peak, 90 of the 105 horizontal oil rigs additions have been in the Permian; 12 in the Cana Woodford—and even the Cana Woodford is no higher than in November.  All other plays have added a mere three rigs since last July.