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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (183263)	3/31/2014 12:32:15 PM
From: JimisJim	Respond to of 206176

Some of that 19 yr. low rig count is never coming back. As more onshore drillers adopt the rigs and rig equipment used offshore to make their high-spec horizontal holes, the number of rigs required to drill X number of wells per year drops significantly because one such rig can drill 6-8 (or more in some cases) wells from the same pad, saving time (and therefore money) making such holes... i.e., one high spec rig can do the work of 6 or 8 old land rigs used to make conventional wells. Sure, there will still be demand for low-spec land rigs as there will always be some demand for conventional wells to varying degrees moving forward. But it is not likely, IMO, that the land rig count (and ng-directed rig count in particular) will ever return to the numbers reached during previous oil and ng booms. Such comparisons are useless, IMO, unless data breaks out type of rig, etc.