OCTG Consumption Growth Impacted By Resource Play Technology
ST. LOUIS–The active rig count has been the standard barometer of oil and gas industry health for many years, facilitated by the ready availability of weekly rig
count data. Directionally, rig counts still indicate the trajectory of industry activity at any given time, but the relationship between rig count and the consumption of hardware and services is not uniform by region, much less over time.
The consumption of oil country tubular goods per drilling rig has improved consistently during the past four decades, but never has it been truer that a rig today is much different than a rig in the past–even the relatively recent past–interms of OCTG consumption.