The number of active rotary rigs in the U.S. is continuing a 4 year upward trend, while the number of available rigs continues to slide. A survey by Reed Tool Co., Houston, found 1,677 rigs working out of 2,320 available, a utilization rate 15 percentage points higher than last year. In 1989, Reed counted 1,444 rigs working out of 2,542 available, a 57% utilization rate. U.S. rig utilization increased for the fourth straight year since the rate plummeted to 26% in 1986, when only 1,052 of 3,993 rigs were active. The number of available rigs counted yearly by Reed has decreased since 1982, when the U.S. fleet peaked at 5,644. ...

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