RIG COUNT DATA – SO MUCH MORE THAN A NUMBER

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Ever since oil and gas prices started tanking in late 2014-early 2015, just about anyone with a stake in upstream or midstream oil and gas indulged in that very Yogi Berra-esque “deja-vu-all-over-again” exercise of paying very close attention to rig count data.

Rig counts down? Crap, no one’s drilling, the industry is falling apart!

Rig counts increasing? Hallelujah, everyone’s figured out how to break-even, or even profit at $50 oil…

 

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