52% Drop in the Rig Count in 1 year: Lowest Since August 2010 / by Tom Joseph

Alex Chamberlin (Disclosure) - "With last week’s fall, the US rig count hit its lowest level since June 12, 2009. A fall in the offshore rig count led the week’s figures. According to Baker Hughes, April’s average rig count of 945 represents a decline of 165 from 1,110 active rigs in March."