AUSTIN, Texas, Jan. 30, 2018 /PRNewswire/ -- Drillinginfo, the energy industry's leading SaaS and data analytics company, announced today that it has launched DailyRigCount.com, a new microsite that incorporates proprietary data from GPS tracking units and publicly reported information to more accurately monitor oil and gas drilling rig movements in the U.S. The microsite is free to everyone and updates daily at 10 p.m. CT.
Rig counts have long been used to assess the overall health of the oil and gas industry and predict future production. In fact, traditional rig counts, which have been released on Friday afternoons since 1944, are so widely read and analyzed by financial traders and investors that they can move markets. However, the timing and nature of these releases – only once per week and gathered via phone and email – means that the information they contain is nearly outdated by the time it's reported and lacks full transparency about activity in the field.
Drillinginfo is now offering a more timely and accurate view of rig activity via DailyRigCount.com. Drillinginfo defines a rig as active from the time a GPS tracking unit identifies it at a permitted oil and gas drilling location until the time it leaves. Other rig counts define a rig as active only when it is "turning to the right." As rigs are often considered a barometer for industry health, understanding the bigger picture of how many rigs are on a location, regardless of whether or not they are turning to the right on a particular day, means a more comprehensive view of current industry activity and the associated future production. In addition, Drillinginfo captures rig movements on weekends and holidays, reflecting the actual activity in the oil field.
"We're now tracking more than 95 percent of the U.S. rig fleets primarily using GPS units that we're installing directly on the rigs, and then augmenting that information with publicly reported permit data," said Allen Gilmer, Co-founder & Executive Chairman of Drillinginfo. "DailyRigCount.com is the type of tool E&P, service and supply companies, financial traders, and investors have been seeking, and we're pleased to meet that demand. Real-time information enables more timely analysis and informed decisions for greater competitive differentiation.
"Competition is always better for the consumer and that includes market intelligence like rig counts. There will be no more waiting until Friday afternoon to see and react to traditional rig count data. This alternative method of tracking rigs will grant greater transparency and insight as to who is making moves and where, and allow for better, faster decisions. It's a niche Drillinginfo is perfectly suited to fill."
Drillinginfo has developed a list of frequently asked questions about DailyRigCount.com and DI Rig Analytics, a product customers use to understand in-depth analysis of U.S. rig activities and movements in specific oil and gas basins, by specific operators and drilling contractors, and for specific lateral lengths.
Members of the media can request to receive Drillinginfo's rig count update by contacting Jon Haubert and requesting they be added to the distribution list.
Drillinginfo is the leading energy SaaS and data analytics platform that provides those working in the energy industry with predictive tools and technology to drive exploration decisions, evaluate rapidly evolving opportunities, and achieve better, faster results. The company delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves more than 3,500 companies globally from its Austin, Texas, headquarters and has more than 550 employees. For more information visit drillinginfo.com.