The US drilling rig count dropped for the 10th time in 11 weeks during the week ended Nov. 6, losing 4 units to 771, again its lowest point since Apr. 26, 2002, according to data from Baker Hughes Inc. (OGJ Online, Oct. 30, 2015).  Since Aug. 21, the count has fallen 114 units after a short-lived summer rebound. Compared with this week a year ago, the count has lost 1,154 units.  Oil-directed rigs declined for the 10th consecutive week, losing 6 units to 572, down 996 year-over-year and hitting their lowest level since June 11, 2010. That count has now fallen 103 units since Aug. 28.  BHI also reported on Nov. 6 that the average overall US rig count for October was 791, down 57 from September and down 1,134 from October 2014.

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Posted in: USA