The overall US drilling rig count plunged 28 units to 709 during the week ended Dec. 11, representing its lowest level since Sept. 17, 1999, according to Baker Hughes Inc. data (OGJ Online, Dec. 4, 2011).  The count has fallen in 15 of the last 16 weeks since a short-lived summer rebound, giving up 176 units over that time. Since this week a year ago, 1,184 units have gone offline.  The drop was again anchored by oil-directed rigs, which lost 21 units to 524, down 1,022 year-over-year and their lowest point since Apr. 30, 2010. Gas-directed rigs declined 7 units to 185.  Meanwhile, BHI this week reported that the average US rig count for November was 760, down 31 from October and down 1,165 from November 2014.

Posted in: USA