Gas activity up sharply, active oil rigs record largest fall since May 2016
Drilling activity declined this week, continuing the drop from last week according to the latest edition of Baker Hughes’ Rig Count.

A net one rig shut down in the week, meaning there are 1,075 rigs active in the country. The only shift among location type was one land-based rig coming offline, as inland waters and offshore rigs held steady.

Despite the small overall change in rig count, there were extensive changes in specific categories. Ten oil-targeting rigs shut down in the week, the largest decrease since rigs bottomed out in early 2016. Nine gas rigs came online in the week, the largest jump since October 2016.

Four directional rigs came online in t...

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