US rig count drops 4 this week to all-time low of 476

March 18, 2016 7:55 PM

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HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped 4 this week to 476, a record low and another sign of continuing price woes in the oil and gas industry.

Houston-based oilfield services company Baker Hughes Inc. said Friday that 387 rigs sought oil and 89 explored for natural gas this week.

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