The Desk
Reading Rig Counts Accurately (Honest)

Monday, November 09, 2009

We were reading this great analysis of oil and gas rig count forecasts by Marshall Adkins of Raymond James this week, in which he noted how the high efficiency of modern rigs and drilling methodologies is unlike anything we’ve seen in history. We got to thinking about how cool it would be to work up a sort of modern index or algorithm to better represent what it really means when the tallies add or lose X percent of rigs over a given period. It’s quite clear to us that rationalizing how much output might come from 500 gas rigs today is far different from asking the same question three years ago.

And, like magic, we receive this new report from BENTEK Energy called, A New Era in Rig Productivity, which featured a new service from the company called the BENTEK Rig Productivity Index (BPI). We shot Adkins a copy of the report and he called the BENTEK analysis “dead on.”

For a complete copy of this report from The Desk, please click on the following link: