Activity continues to hover near 1,050 rigs
Drilling activity increased in the U.S. this week partially reversing last week’s decline according to the latest edition of Baker Hughes Rig Count.

A net four rigs began drilling this week, bringing the national total to 1,048 active rigs. Three new rigs were land based, while one is inland waters. Offshore rigs were unchanged, so there are now 1,028 land, two inland waters and 18 offshore rigs drilling.

Rig counts appear to have reached something of an equilibrium around 1,050 rigs. The past ...

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