Prudhoe Bay rig count to drop by more than half

BP is the operator at Prudhoe Bay. It shares ownership of the oilfield with ExxonMobil and ConocoPhillips. Chevron also holds a small stake. Screenshot: March 7, 2016
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BP has announced it will cut the number of drilling rigs operating at Prudhoe Bay, from five to two, as a result of low oil prices.
The decision came after BP’s primary partners in the oilfield, ExxonMobil and ConocoPhillips, asked the company to cut costs, said spokeswoman Dawn Patience. (Chevron also holds a