Not unsurprisingly, the U.S. rig count (for both oil and gas, although mainly oil) continues to plummet week after week. The latest numbers show rigs taken out of active duty (laid down) decreased another 59 over the past week. That’s better than the 76 laid down the week before (see Carnage Continues: Rig Count Down Another 76, Marcellus Down 2), but still not great. Hundreds of rigs have been laid down over the past month–most of them in the oil patch. But not all. Last week the Marcellus lost four rigs after losing one the week before.
Not unsurprisingly, the U.S. rig count (for both oil and gas, although mainly oil) continues to plummet week after week. The latest numbers show rigs taken out of active duty (laid down) decreased another 59 over the past week. That’s better than the 76 laid down the week before (see 