The Baker Hughes rotary rig count fell 43 this week to 1,633 total oil and gas rigs working on land and offshore for the week ending Friday — the lowest the count has been since August 2010. Of the total US rig count, 1,579 rigs — nearly 97% — are working on land or inland waters, the lowest number since July 2010 and also down 43 from a week ago, the oil services company said Friday in its weekly data. While that is an abnormally high dropoff for a rig count that has bee generally slow-moving in recent years, it is not as steep as declines earlier this month. For example, the number of land rigs fell by 74 during the week that ended January 16 and 60 the week that ended January 9, Baker Hughes data show. Oil prices that have plunged more […]