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S&P 500
5,604.00
(
-0.53%
)
US TECH 100
19,840.00
(
-1.38%
)
Dow Jones
39,804.46
(
0.21%
)
Brent Oil
85.23
(
0.21%
)
Bitcoin
57,914.33
(
0.27%
)
Post# of 41155
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crocolyle

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crocolyle

Re: redrabbit post# 3632

Friday, 02/27/2015 12:38:24 PM

Friday, February 27, 2015 12:38:24 PM

Post# of 41155
Rigs don't pump oil. Rigs simply drill the wells. Which is why the rig count, when it comes down to reality doesn't truly affect the price and like I said in a previous post, doesn't immediately change production decrease. Just because wells are drilled doesn't mean they have to complete the well immediately and produce it. They can drill and leave uncompleted and offline for periods of time, determined by the oil lease itself.
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