As the Trump Administration re-activates sanctions on Iran and its crude oil exports, now seems a good time to assess the current state of the U.S. oil and gas industry:
The overall rig count continues its slow rise. – The U.S. rig count has risen slowly and steadily throughout 2018, and that trend has continued at the outset of the second half of the year. The DrillingInfo daily rig count moved up from 1114 on July 21 to 1133 as of August 20. Absent an unforeseen price collapse, this is a healthy and sustainable trend that is likely to continue through the end of the year.
