Service & Supply | Oilfield Services | Exclusives / Features
Service Companies Talk 2020: Rigs, Spending, Outlook
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Below we take a look at the highlights from Patterson-UTI and Helmerich & Payne's Q4 conference calls.
Quick ReadPatterson UTI and H&P control some ~42% of the contract drilling market. Here what they think will happen with rig count.
Patterson:
Helmerich & Payne:
Expecting E&P spending to be down 10% YOY Expecting rig count increases throughout the year Expecting 14% less wells drilled in 2020 vs 2019 Introduced performance based contractsShale Experts is re-iterating its 2020 rig count forecast for the year:
Horizontal Oil: 600 - 650 (616 currently) Horizontal Gas: 80 - 110 (96 currently Wells drilled 13,274 - 13,819 H&PIn i…
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