United States: U.S. rotary rigs ///
Optimism goes south at year-end. 2001 began with the U.S. rig count surpassing the 1,000 benchmark, reaching 1,118. Thereafter, the count rose steadily to 1,270 in June. However, as the U.S. recession began impacting oil and gas prices, a decline became apparent in August. Then, as the aftereffects of the events of September 11 took hold in the form of $18 oil, the number of rigs operating plummeted to only 901 in December. Despite the drop, the average number of rotary rigs operating during 2001 was still 26% higher than the prior year.
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