Rodent

HAPPY RIG COUNT DAY!!

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Rig count to be released today--a day early--at 1:00pm EST due to Good Friday. See you then!

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Oil rigs -7

Gas rigs +4

Canada: -27 (losses upon losses)

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its Friday again, yay, awaiting rig counts and maybe get to do something fun this weekend

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wohoo!!

4 minutes ago, cattleman said:

its Friday again, yay, awaiting rig counts and maybe get to do something fun this weekend

 

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Rodent, if one day your birthday falls on Rig Count day the level of excitement on this thread is going to go through the roof!

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8 minutes ago, J Owens said:

Rodent, if one day your birthday falls on Rig Count day the level of excitement on this thread is going to go through the roof!

YAY! Yes, oilprice people, mark your calendars! May 9, 2025, my birthday will perfectly align with rig count Friday. Tune in then for a fun-filled day of rig counts and birthday shenanigans! You are all hereby invited to the online party. 

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US rig count +10 (+11 oil, -1 miscellaneous, gas 0 )

Canada rig count -23

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US rig count +5 (+7 oil, -2 gas)

Canada rig count -9 

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I don't have anything to add today.  I'm in an area of Michigan with expanding gas exploration and I'm here to get educated.

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US oil and gas +5

Canada oil and gas -9

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On 4/13/2018 at 9:25 PM, Jan G said:

I don't have anything to add today.  I'm in an area of Michigan with expanding gas exploration and I'm here to get educated.

You came to the right place @Jan G! Welcome!

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By the great power vested in me by Oil Price, it is with great excitement that I welcome you all to RIG COUNT DAY, the best day known to man. Please join me right here at 1:00pm EST. Pull up a chair, sit back and relax, and let's talk all about rigs, the Permian (probably), and oil prices.

I expect today's oil rig count, which has gained 28 rigs in the last 4 weeks, to be up yet again. For winners, look to New Mexico and Texas--but while New Mexico appears to be on fire as far as rigs gained in the last year, its current 87 rigs (up from 55 rigs a year ago), is still well below the 100+ rigs that it had in play towards the end of 2014. Texas, with its 513 rigs currently,  is up from 436 a year ago, but down significantly from 800+ at the end of 2014. Production, however, from these two states is up from 2014, despite fewer rigs in operations. 

Some believe that the number of rigs in operation are not nearly as important an indicator or reflection of where oil prices are as it once was. I contend that they are in fact more important, since every rig = more production. So adding one rig or losing one rig means more production gained or lost, as opposed to a few years ago, when less efficient operations caused each rig to produce less oil.

So every swing in the number of rigs now to the number of rigs is critical, in my mind. Thoughts?

Welcome one and all!

--Juli

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oil rigs +9, gas rigs +1, miscellaneous +1

Canada -7

 

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YAY happy rig count friday everyone!

US Oil and gas +13 (10 oil, 3 gas)

Canada oil and gas -7 (again) Gas rigs in canada now down year on year.

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May rig count day find you happy, well, and ready for the weekend! See ya'll at 1pm EST for what I'm sure will be more rig count gains for the US! 

Image result for ecstatic

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(edited)

Do you also follow world rig count closely?

Maybe less spectacular but in long time perspective they are much more important in my humble opinion. 

 When I last time  checked them that was very low number of rig count of both oil and gas globally even in some Opec countries that produced at full speed at that time. So I get to conclusion that 50-60 $ oil price in that period was simple too low. I think you can find them both in baker hughes and opec report.

Edited by Tomasz
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Rig count up = discount up ?

Adding new rigs to an already  filled up pipeline network is going to increase the price discount or am I wrong ?

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rigs up 1 in US

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IT'S RIG COUNT FRIDAY!!!! 

US rigs (oil+gas) +13

Canada rigs (oil+gas) -2

 

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rig count ramblings

I love Fridays. I don't just love Friday's because it signals the end of the week. I don't just love Friday's because the weekend is nearly upon me. It's not the fact that Junk Food Friday (which is every Friday) means a bag of chewy sweetarts, donuts, coke, and lots of other foodstuffs that is not good for me. It's not the promise of a weekend filled with Fortnite, or the anticipation that I will be the last one standing--at least once. It isn't the notion that I may get to sleep in at least until 7am tomorrow morning. Or that I don't have to work tomorrow.  Nay. It is all of these things, and so, so much more. For today... Friday... is rig count day. It's far better than API Tuesday or EIA Wednesday, although I'm not entirely sure why. It's even better than OPEC MOMR day, and that's a super exciting day. It's just... .well, the heart wants what the heart wants, and my heart shall always be faithful to Rig Count Friday.

That is all. Go in peace. See you back here at 1pm, fellow oil industry dwellers, for a quick recap of today's rig-based news!

 

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US oil rigs +1

US gas rigs -1

Canada +18

Cana Woodford saw most of the increase. Permian rig count fell by 1

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