Pioneer Drilling The oil rig count fell again this week from 318 to 316 after last week’s slight reprieve, coming in at the lowest at any point in time since Baker Hughes has been keeping track. The 2-count loss in the number of active oil rigs was offset by an increase in U.S. gas rigs, up from 85 to 87, holding the total U.S. oil and gas rig count steady at 404. The U.S. oil rig count fell by two, as reported by Baker Hughes’ latest oil rig count , while the U.S. gas rig count climbed slightly to 87. This week’s slight fall in the number of active oil rigs comes after last week’s unchanged figures, which was preceded by eight weeks of free-falling. The total number of active oil rigs in the US of 316 represents less than 50 percent of last year’s U.S. oil rig count. […]

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