Is This The Best Play In U.S. Oil?

E&P companies have added 30 horizontal rigs in the Permian basin since the end of June. Most analysts didn’t notice (Figure1).Figure 1. Tight oil horizontal rig counts since January 1, 2015. Source: Baker Hughes & Labyrinth Consulting Services, Inc.(click image to enlarge) Rig counts in most active plays are stabilizing after falling more than 50% since November but companies are adding rigs in the Permian like there’s a boom going on. Last week the total U.S. rig count was unchanged but 7 new horizontal rigs were added in the…

via Daily News Update

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