U.S. drops 21 rigs as drilling declines continue to mount in oil patch

NATURAL GAS INTELLIGENCE | The U.S. rig count continued on its downward trajectory during the week ending Friday (May 22), albeit at a somewhat less dramatic pace, falling 21 units to finish at 318, according to the latest numbers from Baker Hughes Co. (BKR).

All of the declines came from the oil patch for the week, with natural gas-directed drilling holding steady at 79 rigs. The combined U.S. total ended the week 665 units behind its year-ago tally. The U.S. count has now plummeted by 474 rigs since March 13, BKR data show.

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