US rig count falls again
Tuesday, February 16, 2016
As of Feb. 12, the U.S. rig count fell by 30, down to 541 rigs, according to Oil & Gas Journal. The previous week, the count decreased by 48 rigs.
The source reports that one forecast for this year’s average rig count is now 500, down from previous predictions. That firm, Raymond James & Associates Inc., says that less activity this year could contribute to greater growth next year. And, while RJA doesn’t foresee rig counts returning to their 2014 numbers, rigs are becoming more efficient.
As of Feb. 12, there were 29 rigs operating in the Marcellus shale, down two rigs from the previous week.
Read more: Oil & Gas Journal > BHI: US rig count loses 30 in latest drilling dive
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