HOUSTON – The US Gulf of Mexico rig count has dropped to 24, according to the Baker Hughes Weekly Rig Count of April 8, 2016.
That number is a decrease of two compared to the company’sweekly rig count of April 1, 2016, and is down eight rigs year over year.
The company also reported that the overall US rig count totaled 443, down by seven units from the previous week and an all-time low.
The current nationwide rig count is still less than half the prior-year level of 988. Notably, the count had peaked in 1981 to 4,530. Inversely, the previous all-time low was recorded at 488 during 1999. However, this was broken last month and subsequently the rig count has been touching new lows steadily.
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