The US drilling rig count dropped 4 units to 767 rigs working during the week ended Nov. 13, marking the 11th time in 12 weeks it has fallen and remaining its lowest since Apr. 26, 2002, according to data from Baker Hughes Inc. (OGJ Online, Nov. 6, 2015). However, the US oil-directed count posted its first increase—albeit modestly—in 11 weeks.  Adding 2 units this week to reach 574, the oil-directed total is still down 101 units since Aug. 28 and 1,578 units year-over-year.  Since Aug. 21, the overall count has fallen 118 units after a short-lived summer rebound. Compared with this week a year ago, the count has lost 1,161 units.

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Posted in: USA