No help for the futures which continued slipping after the BHI release, $2.946, down 9.1 cents.
From Oil&Gas Journal:
The US drilling rig count remained unchanged during the week ended Sept. 14, with the total number of rotary rigs in the US remaining at 1,864, reported Baker Hughes Inc. This compares with 1,985 rigs working in the comparable week last year.See also:
Rig counts were unchanged for land drilling, at 1,794 units; inland waters, at 19 units; and offshore, at 51 units. There were 50 rigs drilling in the Gulf of Mexico.
Of the recent week’s total, rigs targeting oil reached 1,413, an increase of 4 units from a week ago. Gas rigs decreased, falling 4 units to 448 rigs working. Three active rotaries were unclassified, unchanged from a week ago.
Rigs drilling directionally were reported at 207, down 7 units from a week ago and 34 fewer than the same week last year. The number of rigs drilling horizontally decreased by 2 units to 1,133 compared with 1,137 in the comparable week a year ago....MORE
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