Fewer Rigs Required to Do More
Average U.S. Land and Offshore Rig Count
This is a graph showing how the number of drilling
rigs searching for oil and natural gas has dropped from
a peak of almost 4000 in 1982 to an average of around
1000 over the last decade. The demand for natural gas
- as shown by slide 5 - has increased by 10% over the
last 25 years, yet there are 75% fewer drilling rigs
now looking for the resource. In order for the supply
and demand balance to be maintained, the drilling rig
fleet must drill more wells faster than before. Once
the natural gas is found, the wells must be completed
faster, at higher rates of production and with a higher
rate of recovery than wells in the past.
