The US drilling rig count dropped just 21 units to settle at 1,048 rigs working during the week ended Mar. 27, representing the smallest decline in 15 weeks, according to data from Baker Hughes Inc. Oil rigs shed just 12 units, also its smallest decline in 15 weeks. The overall count has now fallen in 16 consecutive weeks, during which time it has plunged 872 units ( OGJ Online, Dec. 5, 2014 ). The total of 1,048 is the lowest count since the week ended Oct. 23, 2009, and 761 fewer units compared with this week a year ago. The slowed decline comes following analysis last week from Raymond James & Associates Inc. that said the decline’s pace has “far exceeded” RJA’s original expectations, which saw a March average of 1,485 units. The average for the first four weeks of […]