$50-60 New Normal or U.S Shale Bubble?, page-101

Haven't had a chance to reply, been off the grid this days. It's a great read, lots of good knowledge of the shale industry. I wish he would include more of the global picture, how other players\countries are currently performing in comparison to shale.
I like the following quote "Those added rigs, however, resulted from decisions and a process that began weeks or even months ago." That is key into reading the volatility of the rig count. The lag on the timing of decisions, all the approvals, the actual drilling, makes it all challenging for drillers to sync it with logical oil price movements. Also it has to be noted that not all wells drilled are instant producers, probably a lot are designed as future producers, and globally in places such as Aus there are wells drilled to fulfill lease commitments.
Alao consider many service companies are hurting at the moment and are willing to drill at a massive discount just to stay active.
Gltah