U.S. crude oil and natural gas drilling continues to drop

Energy companies slammed on the brakes in the U.S. in the first three months of 2009, a minimum of drilling wells since 2004. This is in accordance with the American Petroleum Institute, which is in the morning with its quarterly report on U.S. drilling activity. According to the API completed 11,071 U.S. producers of oil and gas wells in the first quarter of 2009, down from 22% one year ago and down 35% from the fourth quarter of 2008.
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