Colorado Rig Count Continues Slow Rise From Bottom

Colorado Rig Count and Oil Price as of July 2017 – Click to Enlarge

As of July 2017, Colorado’s Rig count as tallied by Baker Hughes rose to an average of 37 rigs as it recovers from a multi-year low recorded in May of 2016.  The historical rig count displayed in the chart to the left is shown in comparison to average monthly oil price. As expected there is a very strong correlation of rig count to oil price.

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