Slightly lower super-spec rig dayrates and rig count stability for 2019

With the late 2018 oil price drop, contractors and service companies have felt the impact as oil companies slowed their activity for 2019, particularly on the completions side. The outlook for 2019 includes slightly lower super-spec rig dayrates and some independent companies dropping a few rigs by year-end. Byron Pope, Managing Director with Tudor Pickering Holt & Co, spoke on a panel at the 2019 IADC Drilling Onshore Conference & Exhibition in Houston on 16 May. In this video, Mr Pope discusses the trend toward longer lateral lengths and other factors that may impact rig count stability in the coming year.