US land monthly rig count drops for the first time in 2017

The slack in the rig count for US land activity was heavily influenced by weather during September


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The US rig count for September 2017 was 1,043, down 28 (3%) from August 2017, and up 460 (79%) from September 2016, Platts RigData reported on October 9. This rig count includes US onshore, US inland waters, and US offshore

“The slack in the rig count for US land activity was heavily influenced by weather during September,” said Trey Cowan, senior industry analyst, Platts RigData

“I would not be surprised if next month’s count firms toward levels seen in August, prior to the storms, as producers play a little catchup,” he added.

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