US Drilling Decline Continues to Slow: Baker Hughes

摘要

The US oil rig count continues to show signs that it is finally bottoming out, with most major basins seeing no change in their weekly totals, but with two notable exceptions. Oil-field services firm Baker Hughes reported in its closely watched weekly count that the number of rigs drilling for oil in the US fell by 15 in the week ended May 29 to a total of 222, with all of the losses coming in the Permian Basin of Texas and New Mexico (-14) and the Bakken tight oil play centered in North Dakota (-2).