US rig count holds steady

The total number of rigs drilling for crude oil and natural gas in the US remained unchanged at 603 in the week ending 23 October, according to Baker Hughes.

The number of oil rigs gained by one to 460, while gas rigs decreased by one to 132, Baker Hughes reported.

There were 11 miscellaneous rigs in operation – the same as the previous week.

The total US oil and gas rig count was up by 53, or 9.6%, compared with a year earlier.

By Aparupa Mazumder

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