Baker Hughes: Number Of Oil And Gas Rigs At All-Time Low
The Houston oilfield services company Baker Hughes reported the number of oil and natural gas drilling rigs dropped to an all-time low last week. The U.S. rig count dropped 14, to 450, amid continuing energy industry price woes. A year ago, 1,028 rigs were active. The U.S. rig count peaked at 4,530 in 1981. The previous low of 488 set in 1999 was eclipsed March 11, and has continued to dip.