Rig counts have fallen for 13 straight weeks heading into the latest update, scheduled for tomorrow, March 13. Rigs in gas plays have remained relatively steady, but the drop-off in oil-focused regions has been severe. In this edition of Oil & Gas 360®’s Chart of the Week, the oil price slide has nearly halved the amount of rigs in the Permian Basin.

In turn, tight oil production has rapidly declined due to the extra capital associated with the tougher-to-reach hydrocarbons. Tight oil extraction from both the Permian and Bakken fell by n...


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