Watch Five Years of Oil Drilling Collapse in Seconds

A Bloomberg article with an animation of rig count, domestic production and crude price vs time.  It is great illustration of the shale boom and bust.

“The crash in oil prices has taken its toll. The number of active oil-drilling rigs in the U.S. is plunging toward the lowest level in more than 75 years of records. The animation below shows the deployment of oil and gas rigs over five years, culminating in the collapse of almost 75 percent of the rig count.”

Link to video:  Watch Five Years of Oil Drilling Collapse in Seconds

Rig count

 

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About the author

Tom Hohn is a petroleum engineer who has worked in the oil and gas industry for 40+ years. He has endured several booms and busts during that time. In reality, the tough years outnumber the good years, but it is a great industry that has treated him well.