AUSTRALIA

Drilling on the decline

DRILLING is likely to continue its slump well into 2017, with the latest data showing that about half the offshore rig fleet will be cold or warm stacked for the next year, continuing the trend of the last 12 months.

Drilling on the decline

The latest Baker Hughes rig count shows that the total international rig count for October 2016, excluding North America, was 920, down 14 from the 934 in September 2016, and down 191 from the 1111 counted...

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