Total U.S. rig count falls by 2%

The total U.S. land rig count fell by 9 rigs for the week ended April 22, 2016, a decline of 2%. The majority of the rigs that were laid down this week were oil rigs, with a drop of 8 rigs formerly drilling oil and one drilling natural gas. Oil rig count in the U.S. now stands at 343, with 88 focused on natural gas.

The Canadian rig count was unchanged this week. The total rig count in Canada still stands at 40, down 42% from this time last month.

Out of the nine rigs that were laid down, three were directional, three were horizontal, and 3 were vertical rigs. Horizontal remains the dominant factor in the rig count, with 332 rigs drilling horizontally. Vertical rigs still slightly outnumber directional rigs, 51 to 48 respectively. Horizontal rigs comprise 77% of the drilling fleet, the same amount as one year ago.

The total rig count in North America is down from one year ago by 53% when the rig count clocked in at 1011 rigs.

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