Economics
Oil Rigs in U.S. Extend Record as Eagle Ford Drilling Surges
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Rigs targeting oil in the U.S. jumped to a record as energy producers used the most in a year to drill for crude in Texas’s Eagle Ford shale formation.
Oil rigs increased by 14 to 1,487, the highest level since Baker Hughes Inc. split the oil and gas counts in 1987, data posted on the company’s website today show. Rigs drilling for oil in the Eagle Ford of South Texas jumped by nine to 209, matching a record set in May 2013, according to the Houston-based field services company.