Rig counts finally bottom during 2016 ///

Operators continued to idle rigs in the U.S. during 2016. The average U.S rotary rig count for 2016 was just 525 units, a 46.3% decline in activity compared to the previous year’s average of 977. Starting in Jan. 2016, the average monthly rig count dropped four times, before bottoming in May at 407.

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