U.S. RIGS PLUNGES
The US drilling rig count plunged 61 units—almost entirely land-based oil rigs—to settle at 1,750 rigs working during the week ended Jan. 9, Baker Hughes Inc. reported.
That total is the lowest since November 2013. The US now has 4 fewer units compared with this week a year ago.
The average US rig count for December was 1,882, down 43 from November but up 111 from December 2013.
During the week, land rigs fell 60 units to 1,684. Offshore rigs edged down a unit to 54. Rigs drilling in inland waters were unchanged at 12.
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