Decline in gas rigs forecast
US rig market set for subdued year
Analysts agree there will not be any great leap forward in US shale drilling in 2023
Consultancy Wood Mackenzie anticipates US onshore rig additions to be “considerably more modest this year” compared with 2022, with roughly only 50 rigs added throughout the year. And other analysts concur the market will be more subdued. Woodmac also forecasts some extent of decline in gas rigs owing to softening prices and production nearing takeaway limits. “The bulk of those reductions will likely come in the Haynesville, especially as some private companies lay down rigs,” says Ryan Duman, the firm’s research director for the Lower 48 upstream. “We are looking for major producers to continue reiterating the same messages of exercising strict capital discipline, focusing on cash flow gen
Also in this section
8 December 2025
The Caribbean country’s role in the global oil market is significantly diminished, but disruptions caused by outright conflict would still have implications for US Gulf Coast refineries
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
