WorldOil

Rig count to see a slow, steady recovery

There were 1,623 rotary drilling rigs operating in the US at the beginning of 2009, which ended up being the highest rig count of the entire year. The number of working rigs fell by almost 50% in the first half of the year, reaching 876 in June, which was a 57% decrease from the 22-year high of 2,031 rigs achieved at the peak of 2008. After bottoming out in June, the rig count began a slow but steady recovery to end the year at 1,179. The 2009 average rig count of 1,143 was a 39% decrease from 2008’s average of 1,879.