The US drilling rig count plunged 74 units—all on land—to settle at 1,676 rigs working during the week ended Jan. 16, Baker Hughes Inc. reported. That’s the lowest total since the Oct. 29, 2010, rig count, which totaled 1,672. The count has now fallen in 7 consecutive weeks, during which time it has lost 244 units ( OGJ Online, Dec. 5, 2014 ). The US has 101 fewer rigs compared with this week a year ago. Land rigs have plummeted 134 units in the last 2 weeks to settle at a total of 1,610. Unchanged from a week ago were offshore rigs at 54 and rigs drilling in inland waters at 12. Oils rigs this week dropped 55 units to 1,366. Gas rigs dropped 19 units to 310. Horizontal drilling rigs plunged 48 units to 1,253. Directional drilling rigs dropped 8 units to 153. Canada […]