US drillers cut 9 oil rigs in week ending March 22: Baker Hughes

23/03/2019 Argaam

 

U.S. energy companies cut nine oil rigs in the week ending March 22, bringing the total count to 824, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count declined by one rig to 192 rigs for the week, compared to 190 rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is still a bit higher than a year ago when 804 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending March 22

Week-on-week change

YoY

Oil

804

833

824

(9)

20+

Gas

190

193

192

(1)

02+

Oil & Gas

994

1026

1016

(10)

22+

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