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 30 October, according to Baker Hughes.

The number of oil rigs gained by two to 462, while gas rigs decreased by two to 130, Baker Hughes reported.

There were 11 miscellaneous rigs in operation – the same as the previous week.

The total US oil and gas rig count was up by 57, or 10.4%, compared with a year earlier.

By Aparupa Mazumder

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