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OFS - Average drilling day rate posts largest monthly drop in five years - July 2020



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The average drilling day rate over all US onshore regions slipped in May to $16,752, according to the Enverus Day Rate Report. The decline represents the first time since October 2018 that the day rate has fallen below $17,000. While some macro elements in oil and gas started to show improvements in late May, the day rate plummet accelerated. The $533 decline from April was the largest in five years. Since February, average day......
 
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