Breitling Oil and Gas Morning Podcast #185 11-06-12

The US drilling rig count fell by 13 units during the week ended Oct. 26, with the total number
of rotary rigs reaching 1,826. This compares with 2,021 rigs working during the comparable
week last year.

Land rigs plunged by 15 units to 1,759. Rigs drilling in inland waters dropped by 1 unit to 15
rigs. There were 52 rigs drilling offshore, 3 more than a week ago. Of these rigs, 48 were drilling
in the Gulf of Mexico, 5 more than last week.

Of the recent week’s total, rigs drilling for oil decreased by 2 units to 1,408. Rigs targeting gas
fell by 11 units to 416 rigs the lowest in 24 years.

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