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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Report: U.S. drilling day rates flatten after four months of losses

November 21, 2023 by PBOG

The decline in U.S. drilling day rates slowed to a near standstill in October, according to Enverus, as the U.S. composite rate declined to $23,621.  That’s down only $2 from $23,623 in September after falling $838 in the previous four months, according to the Enverus Day Rate Survey.  Three of the survey’s seven regions rose, but the other four fell to result in a virtual stalemate.

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