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Drilling Contractors Talk What to Expect in 2H21
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After reviewing Q2 reports, calls as well as speaking with customers, here is an overview of what to expect for the drilling & completions market for the remainder of 2021.
Outlooks from several drilling contractors, including Nabors Industries, Helmerich & Payne and Precision Drilling, can be found below.
Quick Look: Rig Count Stats Rig count has increased +16% from Q1 to Q2 and 30% Y/Y Increased 75% from private E&Ps vs. public companies (25%) The Permian has seen the biggest jump, accounting for ~25% of all added rigs Nabors IndustriesOn its Q2 conference call, executives from Nabors Industries have a positive outlook for the second half of the year. They predict improved D&C activity and growing rig counts.
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