Rig Counts Versus Production

Rig Counts Versus Production
Rig Counts Versus Production

Anyone still obsessed with looking at rig counts for a quick read on the health of the U.S.'s shale revolution needs to look at this chart compiled with data from Baker Hughes, the oil field service company, and the ever-dependable Energy Information Agency.  As Mark P. Mills points out in this extremely useful article, rising rig efficiencies and productivity have made the "rig count" a far less reliable production index.

http://www.manhattan-institute.org/pdf/eper_16.pdf

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