Re: PA Rig Count Hits 9-Year Low Last Week
I doubt that historic rig count comparisons are really meaningful, given the technological advances in unconventional drilling. Walking rigs, for example, permit drilling as many as ten times the number of horizontal wells from a single pad as was possible 5 yrs ago. They are drilled to different depths and/or with laterals in different directions. Besides the reduction in rigs, the savings in access roads, gathering pipes, water/proppant storage, etc, are enormous.