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Total US rig count down as oil rigs decline

The combined oil and natural gas rig count in the United States was down four to 1,071 rigs in the week to Dec. 14, according to the latest North American rotary rig count from Baker Hughes a GE company.

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The total count sits 141 rigs above the corresponding week a year earlier.

Oil-directed rigs were down four on the week to a total of 873, which is up 126 from the same week in 2017, while gas-directed rigs were unchanged on the week and up 15 on the year at 198.

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The North American rig count was down 16 on the week and was up 77 on the year to a total of 1,245 rigs, as Canadian rigs were down 12 on the week and were down 64 on the year to a total of 174 rigs.

During the week ended Dec. 14, U.S. land rigs fell by five to 1,045, which is 136 above the year-ago level. Inland-water rigs were down one to three rigs, up one from the year-ago period. Offshore rigs were unchanged on the week and were up four on the year at a total of 23 rigs.

By trajectory, directional rigs and vertical rigs were each up by one rig on the week. Directional rigs at 73 are four more than the previous year period, while vertical rigs at 71 are 11 more than the same week in 2017. Conversely, horizontal rigs were down six on the week and up 126 on the year to a total of 927.

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