Exploration & Production

Europe’s rig count increases by two in August

Europe’s rig count increased by 12% in August from the previous month, with exploration in Western Europe driving growth Europe’s rig count increased by 12% in August from the previous month, with exploration in Western Europe driving growth.
By Andrew Walker 6 October 2017 0 27868
European rig count

The number of rigs targeting gas in Europe increased by two in August from the previous month according to data from Baker Hughes, with Germany and the Netherlands adding a single rig each. Exploration activity has started to recover after the number of rigs hit a low of 11 in the summer of 2016. The rig count averaged 13 during June, July and August last year but increased to 19 over the same period this year. However, exploration levels still have a way to go...