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U.S. rig count decreases this week

Xinhua,March 31, 2018 Adjust font size:

HOUSTON, March 30 (Xinhua) -- The U.S. rig count dipped slightly this week as a large decline in oil rigs was mostly offset by an increase in rigs seeking natural gas, according to weekly data collected by Baker Hughes released on Friday.

Houston-based oilfield services company Baker Hughes reported that the number of oil-seeking rigs fell by seven, but natural gas drillers added five rigs, bringing the net decline to two.

The Texas Permian alone now accounts for 443 oil rigs - 56 percent of the oil rig count nationwide. Likewise, Texas is home to 496 total rigs - half of the nation's total of 993 rigs.

The overall rig count, including oil and gas rigs, has sat below 1,000 since April 2015 when oil prices collapsed. Enditem

 

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