US rig count inches down

The total number of rigs drilling for crude oil and natural gas in the US declined by one to 592 units last week, according to Baker Hughes.

The total number of oil rigs fell by two to 484, while gas rigs increased by one to 103 on the week.

There were also five miscellaneous rigs in operation, unchanged from the previous week.

The total number of US oil and gas rigs was down by 29, or decreased by 4.6%, from a year earlier.

By Aparupa Mazumder

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