Rig Count Declines After Three Weeks of Growth
Drilling activity fell this week, reversing last week’s increase, according to the latest edition of Baker Hughes’ Weekly Rig Count.

A net one rig shut down this week, meaning there are 1,067 rigs active in the country. There was little change in rigs by location type, as land and inland waters rigs held flat. One offshore rig, operating in Alaska, shut down this week.

Commodity targets also showed little change this week, with one oil-targeting rig shutting down. Oil currently accounts for 874 rigs, while 193 rigs are targeting gas.

Different trajectories were somewhat more active, as two horizontal rigs came online. Three vertical rigs shut down in the week, the largest decline in v...

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