Rig fleet expands despite considerable activity slump ///

The economic reversal that has occurred over the past year has depressed the demand for rigs, causing drilling activity to plummet. According to the 56th annual NOV Downhole’s rig census (previously known as the ReedHycalog rig census), overall fleet growth has slowed somewhat over the last year, but newly manufactured units are still being brought to market at a steady pace, even as most rig owners are struggling to find work.

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