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Rig Counts Drop But Production Continues


February 26, 2015 | Bloomberg News | [Editor’s note: Even though rig counts are drastically down, crude oil production is still over 9 million barrels per day. Oil continues to be shipped by rail.]| The crash in oil prices has taken its toll. The number of active oil-drilling rigs in the U.S. is plunging toward the lowest level in more than 75 years of records. TheĀ animation below shows the deployment of oil and gas rigs over five years, culminating in the collapse of almost 75 percent of the rig count.

[Read the entire article here.]


Posted in: Bakken Oil News

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