Texas Wells Spud – the chart shows the wells spud and the average (mean) in Texas since covid. We are seeing a recovery the is U-shaped recession this is longer than a V-shaped drilling recession and has a less-clearly defined trough. Drilling may shrink for several quarters, and only slowly return to trend growth. https://lnkd.in/gpuAMeM
In a V-shaped drilling recession, the drilling suffers a sharp but brief period of decline with a clearly defined trough, followed by a strong recovery. The OPEC price wars have been more of a V shape drilling recession.
