American rig

noun

1. a rig for drilling oil and gas wells by using a chisel bit dropped from a considerable height.

Example Sentences

Schlumberger said last week it believed the North American rig count may be bottoming and that a slow rise in both land drilling and completion activity could occur in the second half of the year.

From Reuters

Schlumberger, the world’s No. 1 oil field services provider, said last week that it believed the North American rig count might be bottoming and that land drilling and completion activity could start to rise slowly in the second half of the year.

From New York Times

But on Thursday, Schlumberger, the world’s largest oilfields-services firm, outpaced its earnings expectations, though they dove 30%, and offered recovery hope: “We believe that the North American rig count may now be touching the bottom, and that a slow increase in both land drilling and completion activity could occur in the second half of the year,” Chief Executive Paal Kibsgaard said in its earnings release.

From Forbes

We will be focusing our analysis on the North American rig services business, since it accounts for 50% of our $42 billion valuation for the company and is likely to be the largest source of variability under different commodity price scenarios.

From Forbes

Our $50 price estimate for Halliburton assumes that the average North American rig count will decline by about 37.5% in 2015, falling to about 1400 rigs, with North American revenues declining by about 34% to $12 billion.

From Forbes