Yes, rig counts and oil prices are down from their 2014 peak, but initial production rates have ramped and differentials have fallen. At the peak when oil prices were above $100 per barrel, rig counts hit 198. However, with the subsequent fall in oil prices in late 2014 and again in early 2016, rig counts fell to as low as 22. Since then, oil prices have rebounded to above $60 per barrel. In response, rig counts have also come up to above 50.

Source: Forbes March 02, 2018 21:45 UTC