A 13% plunge in the overall U.S. land-rig count in 2012 isn't bad news for drillers, contractors and the oil industry, Platts writes, as technological improvements allow operators to do more work with fewer rigs. Output is rising in places like North Dakota, Texas and Oklahoma even as the number of rigs slips; improved drilling efficiency has caused rig-count comparisons to become less meaningful.
A 13% plunge in the overall U.S. land-rig count in 2012 isn't bad news for drillers, contractors...
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