Elusive Taq Taq reserves cut by two thirds

The partnership operating Taq Taq oil field in the Kurdistan region of Iraq is drilling a well to test northern reach of the free-water level after an independent study cut proved and probable reserves by two thirds. Source: News

BHI: US rig count gains 15 units, reaches 824

The US count of active drilling rigs jumped 15 units to 824 during the week ended Mar. 31, according to data from Baker Hughes Inc. This count is up 374 units from a year ago. Source: News