Rig count falls by one
Summary
The number of operating rigs in the United States fell by one this week, holding near three-year lows. The rig count slipped to 790, down more than 20 percent from the 1,038 operating rigs a year ago, the Houston oil field service company Baker Hughes reported Friday. Texas added three rigs, including two in the Permian Basin, but those gains were offset by losses in other states. Drilling activity has ebbed with oil prices. Oil was trading below $45 a barrel in early afternoon in New York, down more than 5 percent.
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