US horizontal drill rig count illustrates the scale of shale slowdown
Published: Monday, 09 March 2015
The latest drill rig count data released by Baker Hughes gives an indication of the scale of the slowdown in shale exploration, which has occurred since the substantial reduction in oil prices which started in mid-2014.
The horizontal drill rig count in the US
has continued to follow its recent sharp downward trajectory
this week, with the total number of horizontal drilling rigs
falling by 51 to 895 over the past week — the lowest
level since mid-2010.
Associated most strongly with oil and gas exploration