Diversified Drilling are encouraged by positive signs for the oil industry, the U.S. drilling rig count rose again last month and U.S. crude oil production also increased, led mainly by activity in Alaska. In addition, the oil industry has focused on making rigs more productive by optimizing their completion techniques, oil companies are displaying a positive outlook for the latter part of the year, with many firms planning to keep their rigs operating as well as adding rigs later in 2017

 

The Middle East Rig Count has also increased steadily from the start of 2017 and is currently enjoying an approximate 4% increase since January

 

This coupled with a marked growth in activity in our Northern Iraq facility is reason to be optimistic, after a low spell in Erbil, we are currently involved in three major projects with our tubing running services and pressure control equipment, we are also participating in several tenders in Iraq and feel confident that our activity will increase going forward