US Rigcount Falls To 5-Year Low As Saudi And Kuwait Set New Records

•  Saudi Arabia increased drilling for a 16th consecutive month reaching a record 124 rigs in February, up five on January (see story, p7). The number of gas rigs decreased by eight to 45 but that fall was offset by an increase of nine oil rigs.

•  Kuwait continues to step up drilling. Hashim Hashim, CEO of state-owned Kuwait Oil Company (KOC) said last month that Kuwait plans to deploy 120 oil and gas...