Drilling has fallen quite a bit over the last few months in US. The days of shale oil companies having poor capital discipline are long gone.
Rig count is not great everywhere even the Saudis are shutting down rigs, both onshore and offshore.
Longer time horizon deepwater drilling is holding up though, Guyana particularly and deepwater Indonesia particularly in Asia with a bit in Malaysia and PNG. deepwater wells are $$$ but decline rates are much lower (decades) than both shelf offshore and conventional onshore (years) with shale well decline rates measured in months.
my 2 cents, ymmv, dyor etc
Drilling has fallen quite a bit over the last few months in US....
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Last
$24.00 |
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-0.160(0.66%) |
Mkt cap ! $45.56B | |||
| Open | High | Low | Value | Volume |
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| Last trade - 16.15pm 25/06/2025 (20 minute delay) ? |
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