Thread regarding Newpark Resources Inc. layoffs

Rig Count 722 today

Buckle your seat belt folks, she’s going to 400

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No real argument with the number . But my guess is 475-525 rigs drilling on 8-2020 and reevaluate on 8-1-2020. Midland/Odessa/Delaware Basin area is Being/ Going to get Crushed. A Long Way from 4521 rigs in US drilling in 12-1981. 19 rigs now working in the Entire Gulf of Mexico from Brownsville, Tx to Florida. Only one inland barge rig in La and ONLY one land rig working South of IH 10 in Louisiana. High number offshore for GOM rigs in the past was around 140 rigs. AND the REAL Wild Card , Natural gas @ $1.59 and winter is winding up and Spring is just about on top of us and NG storage is WAY ahead of all Averages for this Yearly time period . Although there will be plenty of Premium Gasoline so p can fill up the beemer to drive back and forth to work. Another thing to consider, what action does HAL take with the 3500 workers in Houston they put on 2 month furlough come the end of May 2020.? And the best part , dt thinks he is just going to get on the phone and solve the Massive problem between OPEC ( SA) and Russia. Good luck with that one. Somehow– I think HE has Bigger Problems Staring him straight in the Face.

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