Finance & Investing | Exclusives / Features | Capital Markets | Oil & Gas Prices | Drilling Activity
Are Operators Finally Living Within their Means?
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Despite the rise in oil prices, many operators seem to be keeping their 2019 plans / spending relatively conservative. This is further evidenced by the relatively minimal rig and completion activity seen as of Q1 (see charts below).
Oil prices have risen an average of 33% from ~$45.00/barrel in January 2019 to around ~$60.00/barrel at present.
The oil prices initially fell in Q3 2019 from ~$70/barrel WTI to ~$45/barrel, which is where the price remained at the start of this year.Source: OilPrice.com
Rig / Completion Activity in Recent QuartersUsing the Shale Experts Rig and Completions Databases, we took a look at how activity has been so far this year.
Completions dropped off starting in Q3 2018 as oil prices began dropping off. As you can see below, completion activity has remained…
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