That compares with projected spending of $72.2 billion in 2017. The total rig count in the New Mexico rose to 25 in the week ended 16 November , the highest level since March 2015 , with 25 rigs added this quarter , according to a report by Brent . Analysts said the rig count is rising as companies are looking to take advantage of higher oil prices, yet Baker Hughes crude trading at $ 57 , its lowest since March 2015 , amid concerns about oversupply.
The total rig count in the New Mexico rose to 25 in the week ended 16 November , the highest level since March 2015 , with 25 rigs added this quarter , according to a report by Brent . Analysts said the rig count is rising as companies are looking to take advantage of higher oil prices, yet Baker Hughes crude trading at $ 57 , its lowest since March 2015 , amid concerns about oversupply.