US Rig Count Drops fourteen This Week to four hundred fifty, Another All-Time Low

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Source:   —  April 01, 2016, at 9:27 PM

S. dropped fourteen this week to four hundred fifty, another all-time low amid continuing energy industry price woes. A year ago, 1.028 rigs were active. Houston oilfield services company Baker Hughes Inc.

The no of rigs exploring for oil and natural gas in the U. S. dropped fourteen this week to four hundred fifty, another all-time low amid continuing energy industry price woes.

A year ago, 1.028 rigs were active.

Houston oilfield services company Baker Hughes Inc. said Friday three hundred sixty-two rigs sought oil and eighty-eight explored for natural gas.

Among major oil- and gas-producing states, TX lost five rigs and OK four. California, ND and OK each dropped two while Alaska, KS and PA declined by one apiece.

NM gained two rigs and UT was up one.

Arkansas, Colorado, Ohio, WV and WY were unchanged.

The U. S. rig count peaked at 4.530 in one thousand nine hundred eighty-first. The previous low of four hundred eighty-eight set in one thousand nine hundred ninety-ninth was eclipsed March eleven, and has continued to dip.

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