US horizontal rig count hits record high - Reuters Africa

By
Viraj
on November 6, 2010 11:51 AM | | TrackBacks (0)
NEW YORK, Nov 5 (Reuters) - The number of horizontal rigs drilling for oil and natural gas in the United States rose by 24 to a record high of 943 this week, oil services firm Baker Hughes said on Friday.

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Horizontal rigs -- the type most often used to extract oil or gas from shale -- easily eclipsed the previous record high of 929 hit in early October. Analysts estimate that two-thirds of horizontal rigs are drilling for natural gas, and these comprise part of the overall rig count. The rest are drilling for oil.

US horizontal rig count hits record high - Reuters Africa

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This page contains a single entry by Viraj published on November 6, 2010 11:51 AM.

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