Decimated by Oil Drilling Decline, U.S. Rig Count Drops Below 300 as Slowdown Continues

摘要

The U.S. rig count dropped another 17 units to fall to 284 for the week ending Friday as the latest Baker Hughes Co. (BKR) numbers showed domestic drilling activity still searching for a bottom even after months of retrenchment. The domestic declines included 16 oil-directed rigs and one natural gas-directed, with the combined U.S. total ending the week 691 units behind the 975 rigs active at this time last year. The U.S. count has plummeted more than 500 rigs since March 13, BKR data show.