Total count down 10
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell this week in the U.S. continuing a general downward trend, according to Baker Hughes Rig Count.

A net ten rigs came offline in the week, leaving 1,012 active in the U.S. The entire decline came in land activity, as inland waters and offshore rig counts remained flat. There are currently 986 land, three inland waters and 23 offshore rigs drilling. Notably, the current U.S. rig count is down year-over-year, as there were 1,013 rigs active at this time last year. This is the first decline in year-over-year rig count since 2016.

The decline in activity was distributed proportionately among commodity targets, as eight oil and two gas rigs came offl...

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