Texas, Oklahoma and New Mexico are down 61 rigs since November
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell in the U.S. this week, the second drop in a row according to Baker Hughes Weekly Rig Count.

A net nine rigs came offline in the past week, bringing the national rig count to 1,038 rigs. Eleven land-based and one inland waters rig came offline, while three offshore rigs started operations. Land-based and overall U.S. drilling activity are at the lowest point in ten months.

Drilling shifted sharply away from oil, as ten oil-targeting rigs came offline in the week. One gas-targeting rig started operations, so gas now accounts for 195 rigs or 18.8% of the national total. Like overall activity, the number ...

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