Eight rigs shut down, all targeting oil
Drilling activity declined this week, countering two weeks of expansion according to Baker Hughes’ Weekly Rig Count.

A net eight rigs shut down this week, leaving 1,075 rigs active. This is even with the activity level seen in early December, and is just below the post-downturn high of 1,083.

Six land-based rigs shut down in the week, while two offshore rigs shut down. This means there are 1,050 land, three inland waters and 22 offshore rigs active in the country.

All eight rigs were targeting oil, while gas activity held flat in the week. Oil now accounts for 81.6% of all U.S. drilling, with the remaining 18.4% targeting gas.

The decline in activity was entirely concentrated in conventio...


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