Although the overall US drilling rig count merely edged up a unit to 863 rigs working during the week ended July 10, it represented the third consecutive week of gains and another jump in oil-directed rigs, according to data from Baker Hughes Inc. Over the past 3 weeks the overall count has risen 6 units. The warm streak follows 28 consecutive weeks of losses, which has resulted in the count currently having 1,012 fewer units year-over-year ( OGJ Online, June 26, 2015 ). BHI also reported this week that the average US rig count for June was 861, down 28 from May and down 1,000 from June 2014. In an energy update this week, Raymond James & Associates Inc. noted that permitting activity, a main indicator of rig count activity, was low a week ago as a result of the Independence Day holiday in the US. Just 680 new […]