Eight new rigs in Lone Star State for each of the past two weeks
Drilling activity rose once again this week reaching another post-downturn high, according to the latest edition of Baker Hughes’ Weekly Rig Count.

A net four rigs began drilling this week, meaning there are now 1,067 rigs active in the U.S. The overall U.S. rig count has risen by 15 in the past two months, appearing to break out of a rough equilibrium that lasted from May through the first week of October. The current rig count is the highest seen since mid-March 2015.

Seven land-based rigs began drilling this week, while three offshore rigs shut down. Inland waters activity was unchanged, so there are 1,044 land, three inland waters and 20 offshore rigs active in the ...

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