The rig count has started to lose its relevance and become less reliable as a measure of oil and natural gas production growth and the industry's financial health, according to a report from Enverus. According to Rob McBride, Enverus' senior director of strategy and analytics, improved efficiency and productivity stemming from drilling technology advances have diminished the importance of the rig count metric and reinforced the need for a more comprehensive solution.
Enverus: Rig count no longer tells the whole story
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