Shale Boom Shows Strength as Rigs Gain With Oil Under $60

Bloomberg logoBloomberg Business shares promising signs for the Shale Boom:

Shale Boom Shows Strength as Rigs Gain With Oil Under $60

by Lynn Doan and Dan Murtaugh

For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price.

The last time they added rigs, crude futures were trading near $70 a barrel. Now, even after a rebound, they’re under $60. And yet drilling rigs rose in almost every major U.S. oil basin in the country this week, raising the total by 12, according to field-services company Baker Hughes Inc.

Read more …