US rig count holds steady

The total number of rigs drilling for crude oil and natural gas in the US remained unchanged at 603 in the week ending 16 October, according to Baker Hughes.

The number of oil rigs fell by three to 459, while gas rigs increased by one to 133, Baker Hughes reported.

There were 11 miscellaneous rigs in operation, up by two from the previous week.

The total US oil and gas rig count was up by 55, or around 10%, compared with a year earlier.

By Shilpa Sharma

Please get in touch with comments or additional info to news@engine.online