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US rig count falls below 800 in week to Dec. 6

The combined oil and natural gas rig count in the U.S. clocked in below the 800 level at 799 rigs during the week ended Dec. 6, according to the latest Rotary Rig Count released by Baker Hughes Co.

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The count is also down 276 rigs, or 26%, from the same period a year ago.

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Oil-directed rigs decreased by five to come in at 663 rigs for the week and are down 214 rigs from the corresponding week in 2018. On the other hand, gas-directed rigs totaled 133, up two rigs for the review week but down 65 rigs from the year prior.

The oil-focused Permian Basin saw a five-rig decrease to 400 rigs while the Cana Woodford and Haynesville basins noted two-rig declines to total 25 rigs and 51 rigs, respectively. The Granite Wash, Marcellus and Williston basins each noted a one-rig increase for the week to one, 37 and 52 rigs respectively.

Up north, Canada added 12 rigs for the week ended Dec. 6, bringing the count to 138, but is down 48 rigs, or 26%, from levels seen during the same period in 2018.