Baker Hughes US oil rig count 343 vs 351 prior

• Fresh low since Nov 2009
• Prior oil rigs 351
• Natural gas rigs 88
• Prior gas rigs 89
• Total rigs 431
• Prior total rigs 440           

Oil rigs have fallen dramatically since the beginning of 2015 but that doesn't tell the whole story. Efficiency is far greater than before and many long-term plays have come on-line. US production is down just 4.4% year-over-year.