Drilling to Increase 4.9% in 2021

Operators worldwide report plans to drill 4.9% more wells in 2021 versus 2020.

Regional variances are observed, with US land operators projecting to drill 9.6% more wells in 2021 versus 2020 (led by the Permian basin) while Canadian operators anticipate a slight decline of approximately 1.8% in 2021. Gulf of Mexico operators report plans to drill 4.1% more wells in 2021 while international offshore operators anticipate keeping drilling activity nearly flat with 2020 levels. International land operators anticipate drilling 5.6% more wells in 2021.