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We talk with Earl Koskie Jr. about the history of downturns as seen through the BH rig count. These numbers will give you some perspective on our current situation.

(1) - 1/17/1986 (1773 Rigs) to 2/14/1986 (1376 Rigs) ---  -397 Rigs (-22.4%) in 4 weeks

(2) - 4/30/1982 (3312 Rigs) to 5/28/1982 (2931 Rigs) ---  -381 Rigs (-11.5%) in 4 week

(3) - 1/23/2015 (1633 Rigs) to 2/20/2015 (1310 Rigs) ---  -323 Rigs (-19.8%) in 4 weeks

(4) - 3/27/2020 ( 728 Rigs)  to 4/24/2020  (465 Rigs) ---   -263 Rigs (-36.1%) in 4 weeks

(5) - In 2009 the 4-week running rig count dropped -229 rigs (max -16.4%) on 4 separate occasions.

Here are the links to the the charts we discuss in the podcast:

If you'd like to get Earl's weekly e-newsletter shoot him an e-mail: etkjr@polydiamondco.com