First time below 1,000 since March 2018
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell sharply today continuing the overall downward trend according to Baker Hughes’ Weekly Rig Count.

A net 21 rigs shut down in the week, the largest decline since mid-January. This week’s drop has pushed the U.S. rig count below 1,000 rigs, the first time below this milestone in over a year. Twenty land-based and two offshore rigs shut down in the week, while one inland waters rig shut down. There are now 966 land, four inland waters...


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