Horizontal activity highest since February 2015
Drilling activity rose once again in the U.S. this week, extending the increase seen last week according to Baker Hughes Rig Count.

A net three rigs began drilling in the week, all land-based. These three rigs mean there are a total of 1,056 land, 24 offshore and three inland waters rigs active in the country.

Two oil-targeting rigs came online, while one gas-targeting rig began drilling this week, meaning oil now accounts for 81.7% of all activity. This share is below the level seen in most of the second half of 2018 but is well above the overall historical average. There are currently 885 oil rigs drilling in the U.S., compared to 198 gas rigs.

Drilling continued to shift in favor ...

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