Weld County Rig Count Update

As we finish up the year, this will be our last rig count update of 2015 for the Wattenberg. According to the Baker Hughes Official Rig Count statistics, there is a total of 19 working rigs in the Weld County area. Last we reported, we saw a noticeable addition of 5 oil rigs to the Wattenburg/Weld County. As of today, there has been 3 rigs dropped (oil) bringing the total down to 19 working rigs. That is a 13.6% decrease in rig activity for the area. As for gas, there are still zero rigs in Weld County; nothing to report. Compare that to December 14, 2014 and we see a 34.4% decrease in oil rig activity from 32 to 21 rigs, and an obvious 100% change for gas (18 rigs down to zero.) Something to keep in mind is the Wattenberg has already dropped 2 rigs since December 4, 2015. With prices steadying below $40/bbl, we could see even more rigs drop from the area before the New Year. Despite this, Vine Royalty is still very interested in the Wattenberg.