Rig Counts December 2009

abarrelfullabarrelfull wrote on 11 Jan 2010 07:14
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Rig count numbers are out for December 2009.

Though down on a year ago, the rig count continues to grow as companies have overcome their reluctance to invest upstream.

The worldwide rig count for December 2009 was 2,509, up 100 from the 2,409 counted in November 2009 and down 712 from the 3,221 counted in December 2008.

Interestingly, by far the biggest YonY variation was in the USA, down 34%, versus a worldwide (excluding the US) total of just 7%. So we can see that drilling in the USA is far more price sensitive than elsewhere.

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