Global Land Drilling Rig Dayrate White Paper
Since the oil and gas downturn of 2014 there has been significant pressure on drilling service costs, including land rig day rates. One of the most significant costs on any onshore oilfield is the cost of hiring a rig to drill the well.
News & Insights
Westwood Insight – Global Land Drilling Rig Activity Boosted as Oil Prices Break $100
At the beginning of January 2022 Brent prices were at $78 a barrel, well above the nadir of 2020 when they reached a low of $9 a barrel. What has been seen since has been well outside of most forecasts, with Brent prices breaching $100 a barrel on the 24th of February 2022.
Global land rigs demand on a path to 30% increase by 2025 from nadir of 2020
Demand for Land Rigs expected to be c. 30% higher in 2025, from the lows of 2020, driven primarily by China, GCC countries and Russia
Uncategorized
Westwood: slow recovery for land rigs after catastrophic 2020
Westwood’s tenth edition of the ‘World Land Drilling Rig Market Forecast’ report assesses impact following estimated worst year on record for drilling
World Land Drilling Rig Market Forecast 2021-2025
In this tenth edition of the ‘World Land Drilling Rig Market Forecast’ report, Westwood assesses the current landscape of the industry following such a catastrophic downturn and provides on the outlook future onshore rig demand.
Automation – key driver for premium Middle East onshore rig day rates
The Middle East is a significant contributor to onshore rig demand, accounting for c.10% of...
News & Insights
Argentina’s Vaca Muerta to provide the cornerstone for rising rig demand in Latin America, despite economic woes
Latin America has emerged as one of the focus regions for rig demand growth over...
Blog
Are there really 4,000 DUC’s in the Permian? There might be less than you think.
How does Energent methodology compare to that of EIA? To many analysts and investors who...
News & Insights
US Drilling and Completions Set to Exceed 20,000 Wells in 2019
The US Unconventional industry continues to see increasing completion intensity per well. This is driving...
