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Rig count falls for second straight week

Staff Writer |
Baker Hughes reported that U.S. oil and gas producers took one rig offline during the past week, bringing the Houston oilfield services provider's total count to 935.

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The oil rig count fell by five week over week to 744, while the natural gas rig count rose by four to 190.

Meanwhile, the U.S. offshore rig count, now at 19, is up two week over week and down one year over year.

Baker Hughes rig count is now up 424 rigs since this time in 2016, with oil rigs up 326, natural gas rigs up 98 and miscellaneous rigs flat.

Last week, the rig count fell by eight overall, with seven oil rigs and one natural gas rig coming offline.

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