Bloomberg put together a cool visualization of active oil drilling rigs in the United States over the last five years. There’s a remarkable drop in the last 18 months. What’s amazing is that oil production has increased in the same time period. Rigs and techniques are more efficient than ever. We may not ever see the number or rigs running that we saw up through the end of 2014. That’s bad news for roughnecks.
This visualization is only for oil, not for gas. It appears that they don’t have one for gas drilling rigs.
Its a great news!