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Suprise Drop in Oil Rig Count Reflects Drilling Efficiencies

Ingrid Pan, CFA | Disclosure
Sep 16, 2013

U.S. oil rig count trends depend on how much companies are willing and able to spend on drilling.

Rig counts represent how many rigs are actively drilling for hydrocarbons. Baker Hughes, an oilfield services company, reports rig counts weekly. The company notes that rig count trends are “governed by oil company exploration and development spending, which is influenced by the current and expected price of oil and natural gas.”

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