Rigs: Flashback -- May 15, 2023

Locator: 44647RIGS.

I used to track rigs "religiously." Not so much any more. Most recent data:

• May 15, 2023: 39 active rigs.
• May 7, 2020: 22 active rigs.
• May 2, 2020: Saudi Arabia drowns the world in oil; WTI plummets to $1/bbl; recovers to $15/bbl; number of rigs in ND plummet to a low of 29; at 30 today; CLR, Oasis both announce they will shut down production in ND;
• October 13, 2019: 58 active rigs (has recently gone as low as 56); WTI around $54
• May 17, 2019: 65 active rigs; WTI $63
• July 29, 2017: 61 active rigs; about 11 more than folks thought there would be at this time a year ago; WTI rose 9% this past week; just shy of $50
• April 27, 2017: Outrun Change has a nice update with more recent data; active rig count rose to 52 for a day or so in early April when WTI was trending toward $55 but has since dropped back to 48; similarly, WTI has dropped back to $48.50.
• February 17, 2017: back to 40; had hit 36 one week ago for about four days; 40 is identical to the "40" one year ago, February 17, 2016
• January 18, 2017: back to 38 active rigs, after being down to 36 rigs for about two weeks;