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Discussion: (4 comments)

  1. looks like the seven fold increase in oil drilling rigs in the US since 2009 has only produced about a 20% increase in oil production…

    1. Che is dead

      Even if that were true, so what? The only thing that matters is whether or not those rigs are profitable.

      1. MacDaddyWatch

        Its not true. The BH rig count includes rig applications for natural gas, crude oil and–believe it or not–thermal.

        rjs did an apples to oranges analysis and he is unaware of the mix between and among the above. His seven fold rig increase generating only 20% crude is total goboldygook.

    2. MacDaddyWatch

      Your comments are very misleading. Today, the rotary rig count of active rigs is BELOW the 2008 peak rig levels and we are producing some 25% more crude than were were back then.

      Moreover…do you have any clue regarding the changing mix between NG and crude oil rigs as reported by BH?

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