REED TALLY SHOWS SLIDE IN U.S. RIG UTILIZATION

U.S. rotary rig utilization this year reversed a 4 year upward trend, while rig availability continued a 9 year decline. In its latest rig census, conducted last summer, Reed Tool Co., Houston, found 1,485 rigs working out of 2,251 available to drill. Last year at the same time, Reed counted 1,677 rigs working and 2,320 available. Rig utilization rates reported by the survey had been growing since 1986 when Reed counted 1,052 rigs working out of 3,993 available, 26.35% of the U.S. fleet. That

Oct 7th, 1991
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