US Land Rigs Down -2.7%, Bakken Pace Slowing
The Baker Hughes US Rig Count for Land Rigs declined -2.7% this week to 1557 from 1599. The horizontal rig count dropped to 1223 down -24 from last week. Vertical Rigs Continue to Drop The vertical rigs operating onshore are now down to 334, including the directional rigs. In January of 2014, there were 530 vertical rigs compared to this week's number of 334 that is -37% decline in activity. Texas was hit hard, going from 310 last year to 186 a -40% decline....