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Total US rig count slides again with declines in oil, gas rigs

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Total US rig count slides again with declines in oil, gas rigs

The combined U.S. oil and natural gas rig count dropped again during the week ended Oct. 13, declining eight rigs to a total of 928, according to Baker Hughes Inc.'s latest North America Rotary Rig Count. On the year, the total U.S. rig count was 389 rigs above the 2016 level.

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Oil-directed rigs fell five on the week but were up 311 on the year at a total of 743. Natural gas-directed rigs were down two on the week but up 80 on the year to a total of 185. Miscellaneous rigs eased one on the week to zero.

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The North American rig count was down five on the week to a total of 1,140, which is 436 above the total reported during the same week in 2016. Canadian rigs rose three to a total of 212, which is up 47 from the corresponding year-ago period.

During the week ended Oct. 13, U.S. land rigs were down six to a total of 907 but were up 394 from the same week in 2016. Inland water rigs were unchanged on the week at a total of one and decreased two on the yearly period. Offshore rigs were down two to a total of 20, which is three rigs lower than in the same week in 2016.

By trajectory, vertical rigs dropped two to a total of 63 but were up six from the same week in 2016. Directional rigs were unchanged on the week at a total of 79, which is up 28 on the year. Horizontal rigs eased by six on the week at 786 but were up 355 from the corresponding week a year earlier.

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