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2015-02-14 14:30:00

US LOSES OIL RIGS

US LOSES OIL RIGS

The US drilling rig count plunged 98 units to settle at 1,358 rigs working during the week ended Feb. 13, Baker Hughes Inc. reported.

That total is the lowest since Feb. 26, 2010, and 406 fewer units compared with this week a year ago. The count has now fallen 11 consecutive weeks, losing 562 units during that time, of which 519 were targeting oil.

During the week, land rigs plunged 99 units to 1,298, while rigs drilling in inland water edged down a unit to 8. Offshore rigs, meanwhile, increased 2 units to 52.

Oil rigs lost 84 units to 1,056.…

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Tags: US, OIL, GAS, DRILLING, RIGS,

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