USO - U.S. drilling rig count resumes decline down 11% since last year
2023-07-14 14:05:09 ET
Total active drilling rigs in the U.S. fell for the 10th time in 11 weeks, declining by 5 to 675, after posting a gain last week, Baker Hughes said Friday in its latest survey .
The total rig count was 10.7% below the 756 rigs reported at the same time last year.
Drilling rigs targeting crude oil in the U.S. fell for the fifth straight week, down by 3 to 537 for its lowest total since April last year, while gas rigs shed 2 to 133 and 5 rigs were counted as miscellaneous.
Rigs targeting crude oil in the Permian Basin fell by 4 to 326, while oil rigs in the Eagle Ford remained unchanged at 59.
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U.S. drilling rig count resumes decline, down 11% since last year