In late March we told you about the biggest one-week drop in U.S. rig counts in the past four years when the rig count dropped by 47 in a single week (see Biggest Rig Count Drop in 4 Years – Who’s Still Drilling?). A week later we told you another 45 rigs had disappeared (see National Rig Count Falls Another 45, M-U Rig Count Holds Steady). And now, a neutron bomb. Over the past week (ending Wednesday) the U.S. rig count lost 74 (!) rigs. The week before the rig count “took a skydive” and went down 80 rigs. The rig count is in freefall without a parachute.
In late March we told you about the biggest one-week drop in U.S. rig counts in the past four years when the rig count dropped by 47 in a single week (see 