Good Company

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Thursday, April 13, 2006

20-year high for US drilling

One thing about increasing oil prices, it usually brings increased drilling activity and this article seems to bear that out:
US drilling jumped to a new 20-year high, up by 31 units with a total of 1,610 rotary rigs working, Baker Hughes Inc. reported Apr. 13.

That's up from 1,348 rigs working during the same period last year and the highest count since the week ended Jan. 24, 1986, when 1,671 rotary rigs were drilling in the US and its waters.

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