Data presented by Bankr indicates that the United States oil and gas rigs in operation have dropped by 59.49%. The drop was recorded between February 2020 and November 2020.
In February, the rigs were 790 while in November the number was at 320. In March, the rigs plunged to 728 before dropping by 36.2% to 465 in April. As of May, operating rigs stood at 301 and later declined to 265 in June.
The lowest number of operating rigs was in July at 251 which slightly rose in August at 254....