February 2017
Special Focus
Rig counts finally bottom during 2016
Operators continued to idle rigs in the U.S. during 2016. The average U.S rotary rig count for 2016 was just 525 units, a 46.3% decline in activity compared to the previous year’s average of 977. Starting in Jan. 2016, the average monthly rig count dropped four times, before bottoming in May at 407.
