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New oil rigs spur cheaper, quicker drilling amid supply glut

Even though the number of rigs has dropped by more than half since prices began falling in June of last year, US output is down just 3.3 per cent from a four-decade high.


HAVE you ever seen an oil rig walk?

Some of the newest rigs can travel hundreds of yards to the next well under their own power, lurching along like 150-foot- tall robots on pneumatic legs that raise the equipment five inches at a time, nudging forward at about a foot per...

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