US total rig count 424 up from 414 last week

17 June 2016, 19:40
Sherif Hasan
This is the 3rd increase in a row

Oil rigs up to 337 from 328 last week
Gas rigs up to 86 from 85 last week

Miscellaneous rigs remained at 1.

Texas rigs were the bid gainer rising from 178 to 191. Of course Texas accounts for - not the majority - but 45% of the total. 

The low water point was 316 oil rigs. It is up on 21 rigs from the low. To give you a clue the high on August 28, 2015 was 675.  So although higher, a rebound in the rig count and with it high paying jobs, is not really likely.

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