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Pricing Flat As Drilling Rigs Rotate Into The Permian Basin

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By Richard Mason, Hart Energy
March 31, 2014

There is no barrier to entry for drilling rigs in the Permian Basin.

While horizontal rig count continues to rise—the Permian now features the greatest concentration of rigs drilling horizontally in any North American market—demand for the higher-spec rigs involved in horizontal drilling is being met by equipment upgrades or by rigs rotating into the Permian from other markets.

Those are some of the findings from a Hart Energy survey of six oil and gas operating companies and two drilling contractors over the last two weeks in March 2014.

While ...

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