Baker Hughes says active oil and gas rigs reached their lowest point since December 2021

2 comments

1. Rig count is completely useless. Rigs are way more efficient and faster than 10 years ago when rig count mattered.

2. Fewer rigs are drilling more lateral feet.
   Fewer lateral feet are producing more volumes.

   It’s like number of farmers going down while crop production goes up during the Industrial Revolution. Crops are going to grow grow grow, but with less and less people.

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