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Economy, season, other factors reduce rig count

01/05/2009
By NINA RACH
US drilling fell for the fifth consecutive week, down by 26 rotary rigs to 1,764 still working during the week ended Dec. 19, compared with a rig count of 1,809 in the same period last year, said Baker Hughes Inc.This was the lowest US rig count since Feb. 1 when 1,763 rigs were drilling. It also was the second consecutive week since Jan. 18 that the count fell below year-ago levels.As usual, the biggest decline was in the biggest category, land rigs, down 28 to 1,688 still working. Inland water activity was unchanged with 9 active rigs. Offshore drilling increased by 2 rigs to 64 in the Gulf of Mexico and 67 in US offshore waters.Seasonal impactThe Christmas holidays have always been &ld...
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