{"id":10257,"date":"2019-10-25T22:35:00","date_gmt":"2019-10-25T17:35:00","guid":{"rendered":"http:\/\/umang.pk\/2019\/10\/u-s-oil-and-gas-rig-count-sees-largest-drop-in-six-months-as-operators-cut-back\/"},"modified":"2019-10-25T22:35:00","modified_gmt":"2019-10-25T17:35:00","slug":"u-s-oil-and-gas-rig-count-sees-largest-drop-in-six-months-as-operators-cut-back","status":"publish","type":"post","link":"https:\/\/umang.pk\/en_us\/2019\/10\/25\/u-s-oil-and-gas-rig-count-sees-largest-drop-in-six-months-as-operators-cut-back\/","title":{"rendered":"U.S. oil and gas rig count sees largest drop in six months as operators cut back"},"content":{"rendered":"
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    What does the shale industry have in common with Silicon Valley startups? Both are losing favor to low-income investors who do not spend money.<\/p>\n<\/div>\n

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    What does the shale industry have in common with Silicon Valley startups? Both are losing favor to low-income investors who do not spend money.<\/p>\n<\/div>\n

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    \n Photos: Jon Shapley, Houston Chronicle \/ Staff Photographer
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      \n Photos: Jon Shapley, Houston Chronicle \/ Staff Photographer
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      What does the shale industry have in common with Silicon Valley startups? Both are losing favor to low-income investors who do not spend money.<\/p>\n<\/div>\n

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      What does the shale industry have in common with Silicon Valley startups? Both are losing favor to low-income investors who do not spend money.<\/p>\n<\/div>\n


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      \n Photos: Jon Shapley, Houston Chronicle \/ Staff Photographer
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      US oil and gas rigs will see the biggest decline as operators shrink in six months<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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      For six months, the operator halted service as energy slowdown continued to pressure workers to reduce oil production. <\/p>\n

      According to Baker Hughes' North American equipment count, US oil and gas operators pulled 21 equipment, 17 oils and four gases last week. Most of the reduction was made by the Permian basin operators, with the net five oil and gas rigs lost.<\/p>\n

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      Due to the significant decline, the number of oil and gas rigs across the country was 830, down more than 200 year-on-year.<\/p>\n

      The shale boom is losing momentum as the oil and gas industry faces another downturn. Oil prices remain at $ 50- $ 60 per barrel, which is hardly enough for oil and gas companies to make money, and shale companies lose favor to investors after failing each year.<\/p>\n

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      What do Tech Unicorn and Shale have in common?<\/strong><\/p>\n

      The recession has begun to affect jobs in oil-rich states. Texas employers, for example, have cut nearly 6,000 jobs in the last four months.<\/p>\n

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      Read the latest oil and gas news at Ch HoustonChronicle.com <\/strong><\/p>\n

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