Replies to post #39373 on Moon Equity Holdings Corp (MONI)

[mdimport]

US oil rig count plummets again

MYLES UDLAND

03/27/2015

The latest weekly rig count from oil driller Baker Hughes showed the number of rigs fell by 12 this week to 813, the lowest since the week ending March 4, 2011.

Combined oil and gas rigs declined by 21 to 1,048.

Compared to this week last year, the number of combined oil and gas rigs is down from 1,809 and the number of oil rigs is down from 1,487.

Bloomberg notes, however, that this week's decline is the smallest in 15 weeks.

Since hitting a peak of 1,609 last October, the number of US oil rigs in use has declined by almost 50%.

Back in January, Baker Hughes said that in past oil price downturns, rig counts have declined by 40%-60%.

Drillers idled 12 oil rigs (excluding gas rigs), dropping the number to 813, Baker Hughes reported on Friday. It was the sixteenth straight week of declining oil rigs. The rig count has dropped 49 percent since October. The median forecast from a Bloomberg survey of 10 #RigCountGuesses on Twitter was for a decline of 39.

Here's the updated chart of the plunge in oil rigs.



Read more: http://www.businessinsider.com/baker-hughes-rig-count-march-27-2015-3#ixzz3Vbila3ib


North America Rig Count

http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-reportsother

[mdimport]

US oil rig count tumbles again

MYLES UDLAND

APR. 2, 2015, 1:06 PM

The number of US oil rigs fell by 11 last week to 802 according to data from oil driller Baker Hughes.

This is the lowest oil rig count since the week ending March 4, 2011.

Since hitting a peak of 1,609 back in October 2014, the number of active oil rigs is down by about 50%, and Baker Hughes said on its first quarter earnings conference call back in January that during past oil downturns, the number of active rigs has declined by 40%-60%.

The number of combined active gas and oil rigs fell by 20 this week to 1,028, the is the lowest combined number of oil and gas rigs since October 2009.

The biggest declines this week came from North Dakota's Williston basin, which saw 6 rigs shut down, and the Texas Permian shale basin, which saw 5 rigs shut down.

This week's report comes on Thursday due to tomorrow's Good Friday holiday.

Here's the latest chart showing the decline in oil rigs.



Read more: http://www.businessinsider.com/baker-hughes-rig-count-april-2-2015-4#ixzz3WG6OlmHP

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This is the 17th weekly decline in a row but the pace of declines is dropping rapidly as it appears an economic efficiency equilibrium is starting to be reached.