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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 rig day rate falls for fourth straight month

October 27, 2023 by PBOG

Enverus Intelligence said Wednesday the drilling rig day rate declined in September for the fourth straight month.  Enverus Day Rate Survey showed that the U.S. composite rate fell in September to $23,623 – down $129 from the August rate.  It was the smallest sequential decline of the last four months.  Enverus said rig demand has not returned to 2022 levels.

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