Tag Archives: active drilling rigs

The oil market just gets worse and worse.

From time to time we check in on the state of the oil industry to determine whether we are approaching a time when it might become profitable to drill along the Beartooth Front. We’re far from it. As of the close of business on Monday, the price of oil touched a seven-year low as active rig counts dropped to their lowest levels since 2010, and gas prices in the area stayed at low levels.

This means that nobody is going to be drilling along the Beartooth Front very soon. And we should all be aware that when the oil companies come knocking with promises of economic growth and plenty of jobs, that promise is only as good as an oil market that we have no control of.

What we can control are the terms under which oil and gas operators do business when the market changes. Continue reading

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