Oilfield service costs rose by 8% in June from a November 2016 low and were up nearly 3% from the same month in 2016, according to data from the Bureau of Labor Statistics. However, these increases have yet to offset the 34% decline in drilling costs during the downturn and can be considered modest given that the US rig count has more than doubled in the past 12 months, writes John Kemp.
US producers face higher drilling costs as more rigs come online
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