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Post# of 13692
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oilfieldmafia

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oilfieldmafia

Re: betahighlander post# 4361

Friday, 01/15/2016 8:27:23 AM

Friday, January 15, 2016 8:27:23 AM

Post# of 13692
Here is the problem, America has it's own oil Reserves. When the Price per barrel of oil is dirt cheap we do not dip into our reserves, when our reserves stack up US Shale companies slow down on drilling. With Oil averaging around 30.00 a barrel we are not touching our reserves. Let me show you just how bad the Rig count is, this is not just a little drop.

United States

ON SHORE
01/2015 - 1,750 ACTIVE RIGS
01/2016 - 664 ACTIVE RIGS

OFF SHORE
01/2015 - 54
01/2017 - 27

I mean this is a 60% loss we are looking at. If anything with all the new shale plays our drilling count should of risen from 1,750 since last year. BUT the cheap ass OPEC oil is killing the US energy sector.
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