[thackney]

if you graph price/rig count you'll see it follows price pretty clearly.

No doubt that the higher the price of oil, the more folks invest money trying to drill for it. More rigs always get put in service when prices stay high for years.

better utilization of fracking+horizontal drilling being deployed.

That would explain a decline in rigs for the same oil price, not an increase.

I'd argue that the fracking/horizontal implementation was NOT a productivity enhancement,

Bad argument. Productivity per rig continued to increase in this time period.

Drilling Productivity Report, December 2014
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf

None of that supports any claim that hydraulic fracturing needs $100 to be profitable.

[Riflema]

Guess I’ll agree to disagree. Just try telling the bankruptcy courts that all is fine at today’s oil prices, looks like they’ll need a lot of expert witnesses in the near future.