US rig count at new low

USA

HOUSTON, March 14, 2016 – The onshore rig count for the US totalled 450 units as of Friday, March 11, according to data released by Baker Hughes on Sunday, marking a 67-year low since the oilfield services provider first started tallying in 1949.

The number of land rigs was down by 13 compared with March 4. Around this time in 2015, there were 1,069 onshore rigs active in the US.

The majority of rigs in the US, 375 units, drill for oil using horizontal drilling techniques. The largest number of rigs is found in Texas. On Friday, Baker Hughes recorded 215 units, down from 501 rigs on March 11, 2015. Oklahoma came in second, followed by Louisiana with 67 and 49 rigs, respectively.

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