The rig count for the week ended March 27, 2015, shows rigs declining at a slower rate
The total number of active rigs drilling for oil and gas in the United States fell again this week to 1,048 from 1,069, according to the most recent Baker Hughes (ticker: BHI) rig count. The decline represents a 2% fall in the number of active rigs in the U.S. – the smallest decline by percentage so far this year.
The number of rigs drilling for oil fell to 813 from 825 while the number of rigs drilling for gas reached 233, down from 242 last week. The Denver-Julesburg (DJ) basin saw the largest decline in rigs since last week, losing three. No new rigs were reported in any of the basins.
Rig counts have fallen 45% since their peak of 1,609 in October of last year.
Rig counts in North Dakota fall below 100 for the first time in five years
The number of rigs in western North Dakota’s oil patch has slipped below 100 for the first time since 2010. There were just 98 active rigs in North Dakota this week, according to the rig count. That’s 100 fewer than on the same day last year.
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