JPM Shale Land Rig Analysis_Analyzing Trends in U.S. Land Activity by Contractor, Basin and Customer Mix
Andreessen Horowitz·2024-11-22 16:18
North America Equity Research 19 November 2024 J P M O R G A N JPM Shale Land Rig Analysis Analyzing Trends in U.S. Land Activity by Contractor, Basin and Customer Mix JPM View: Despite record U.S. oil production and abundant natural gas supply, the U.S. rig count has been on a downward trend since the end of 2022 reflecting the adoption of no or slow growth models from the Public E&Ps and significant D&C efficiency gains, which has led to less demand. As noted in Figure 20Total RigAdsYTD, the U.S. land rig ...