Most major basins see rig count fall
Oil and gas activity declined once again last week, marking the fourth straight drop according to Baker Hughes’ Weekly Rig Count.

The overall rig count declined by four this week, meaning there are now 1,071 rigs active in the U.S. Five land-based rigs shut down, while one inland waters rig came online. There are currently 1,045 land, three inland waters and 23 offshore rigs active in the U.S.

Operations sharply shifted away from the traditional oil-targeting shale development based on developments in several subcategories. Four oil-targeting rigs came offline in the week, while gas rigs held flat. A total of six horizontal rigs shut down in the week, leaving 927 horizontal rigs active in the coun...

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