Fatter US oil drilling budgets for 2018?

I expect US drillers to now increase their drilling budgets nicely for Q1/2 2018. Makes sense if they scaled back drilling budgets when prices were depressed over past few years. They have shown an amazing capacity for adapting. 

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Any predictions for rig count in first half of the new year @Rodent?

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I would expect drillers to add rigs throughout H1, but at a steady-as-she-goes pace. I wouldn't think that drillers will be adding 20 rigs a week or anything, but the door that OPEC is still holding open for shale certainly gives the US an opportunity, and at $60 WTI prices, there is more profitability to be had. We've seen drillers come back at lower prices. We'll see the ones who have streamlined operations, cut costs, adopt high tech, ect, invest in some more rigs. I wouldn't expect it to all be in the Permian, either. 

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Although I see the Federal Reserve Bank of Dallas said today that oil prices will still need to rise further for us to see significantly expanded drilling activity in the US. 

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