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Friday, 01/16/2015 3:18:01 PM

Friday, January 16, 2015 3:18:01 PM

Post# of 368262
U.S. rig count slides again, hits lowest total since October 2010

The U.S. drilling rig count plunged 74 units, all on land, to settle at 1,676 rigs working in the latest week for the lowest total since Oct. 2010, Baker Hughes (NYSE:BHI) says in its weekly report.

The count has now fallen for seven straight weeks as it has lost 244 units, and the U.S. now has 101 fewer rigs than during the same week a year ago.

Most of the losses came in Texas, where the count fell 44 units to 766 to bring the state’s total to its lowest since Mar. 2011; North Dakota gave up just six units to 156.

Canada added 74 rigs, but still has 125 fewer rigs compared with this week a year ago

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