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US rig count sees biggest decline since November 2023: Baker Hughes
03/05/2024
Argaam Exclusive
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The US drilling rig count fell seven units to 499 in the week ended May 3, Baker Hughes energy services firm said in its closely followed report on Friday.
This is the biggest decline since Nov. 3, 2023, when it fell by eight units.
Meanwhile, the gas rig count fell three units to 102 in the week, its lowest level since Nov. 5, when it dropped by 100 units.
Oil and gas exploration platforms - USA
| Item | Year Before | Last Week | Current | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| No. of Rig Count | 588 | 506 | 499 | (7) | (89) |
| Gas | 157 | 105 | 102 | (3) | (55) |
| Oil & Gas | 745 | 611 | 601 | (10) | (144) |
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