Economics
Rigs Targeting Natural Gas in U.S. Slide to 19-Year Low
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Natural gas rigs in the U.S. tumbled to the lowest level in 19 years as freezing weather slowed drilling and producers focused on targeting more lucrative oil and liquids-rich plays.
The gas count slid by 14 this week to 337, the lowest since May 19, 1995, data posted on Baker Hughes Inc.’s website show. Oil rigs gained by seven to 1,423, the most since August 2012, the Houston-based field services company said.