Need More Rigs

After lagging the initial frac count surge, rig deployments are poised to meaningfully outperform in coming months. The key to rig adds will likely be driven by 1) private E&Ps 2) dwindling DUC backlog 3) non-Permian drilling and 4) peaking efficiencies. Altogether, we are anticipating another 75-100 horizontal rig adds by mid-2021 with over 200 more rigs needed to keep U.S production flat longer term (75% of rig deployments to be outside of the Permian).

For access to the full report visit: https://corasresearch.com/reports/

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