The U.S. rig count continues in a freefall, losing massive numbers of rigs each week. Over the past month rigs have gone down 47, then 45, then (gulp) 80, and then 74 (see Rig Count Plunges Another 74; M-U Count Steady as She Goes). Last week the rig count crashed another 76–the second-highest loss for one week in the modern era. Most of rigs disappeared from the oil patch. However, last week the Marcellus lost 2 rigs too.
The U.S. rig count continues in a freefall, losing massive numbers of rigs each week. Over the past month rigs have gone down 47, then 45, then (gulp) 80, and then 74 (see 