Latest US Land Rigs Snapshot

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Image 14.12.2020
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Market Summary

  • In Q2 2020, the market collapsed in terms of rig count and utilization. US land rig count bottomed in August 2020
  • Some signs of recovery - 308 land rigs – highest since May 2020, yet nearly half vs. the same period in 2019
  • Very large idle capacity – average utilization levels in the USA are down by c.65-70%
  • Average day rates are down by c. 12%, compared to Q2 2020
  • Digital technologies that drive efficiencies expected to dominate the theme and be a significant value driver
  • Uncertain time ahead

Full Report 

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