Saturday, October 23, 2010

Rig Count at 1669

The U.S. energy rig count fell by one to 1,669, the second consecutive decline, according to data published by Baker Hughes Inc. Oil rigs were unchanged at 695, and natural-gas rigs dropped by one to 965.
The total U.S. count has gained 59 percent in the past year, Baker Hughes reported on itswebsite.
The number of oil rigs held at the highest level since Jan. 1, 1988. The total has more than doubled in the past year.
Gas rigs declined for the fourth time in five weeks. The count has risen 33 percent in a year.
Miscellaneous rigs, which primarily drill for geothermal energy, were unchanged from last week at nine.
Canadian rigs fell by four to 419, the first drop in four weeks. The total has gained 72 percent in the past year.

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