US oil and gas drilling has slowed to a crawl since global oil demand crashed this spring and prices tumbled with it.
Now that WTI has crept back up into the high $30s/b and potentially above $40/b, have we seen the worst of this drilling slowdown?
Ted Hall, a vice president at Kayrros, shares his views on current activity, bolstered by satellite and other geo-tracking. We talk about what the drilled-but-uncompleted well count means for future production and whether the US will ever return to the peak set in November 2019.
Hall also shares Kayrros findings on how gasoline and diesel demand are recovering as commuters and long-haul truckers get back on the road after April lockdowns.