US rigs in operation slumps to new low

A further sign of the dire oil and gas situation comes from the US where the latest American count of rigs in operation by Baker Hughes hit an all time low since records began in 1949. Just 464 rigs are in operation, down from more than 2,000 four years ago.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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