North American land drilling outstrips offshore

Land rig counts are up, independents are investing more in North America, and a new US Securities and Exchange Commission statement eases regulations for deep water drilling in the Gulf of Mexico.US land rig drilling is up 19% and Canadian drilling is up 41% from a year ago, according to Baker Hughes Inc.'s North American rotary rig counts for Apr. 30, 2004. US offshore drilling has fallen 12% and Gulf of Mexico drilling is down 9% from a year ago, but the overall North American rig count is still up 18% from end-April 2003.Texas, Oklahoma, and Louisiana led the nation in rotary rig operations for the week of Apr. 30, accounting for 72% of all working US rigs. There were 502 rigs oper...

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