The US drilling rig count fell 56 units—41 of which targeted oil—to settle at 1,069 rigs working during the week ended Mar. 20, capping off the 15 th consecutive week in declines, according to data from Baker Hughes Inc. Since the week ended Dec. 5, the rig count has plunged 851 units ( OGJ Online, Dec. 5, 2014 ). The total of 1,069 is the lowest count since the week ended Oct. 30, 2009, and 734 fewer units compared with this week a year ago. The US Energy Information Administration noted this week in its “Today in Energy” update that the last major rig count drop during the 2008-09 recession had little impact on overall oil production because of rig efficiency. “When producers make the decision to lay down some drilling rigs , they generally start by idling the older, […]