Baker Hughes reports U.S. rig count down 3 to 768 rigs
Baker Hughes (BKR) reports that the U.S. rig count is down 3 from last week to 768 with oil rigs down 2 to 610, gas rigs down 1 to 156 and miscellaneous rigs unchanged at 2.
The U.S. Rig Count is up 224 rigs from last year’s count of 544 with oil rigs up 166, gas rigs up 56 and miscellaneous up 2.
The U.S. Offshore Rig Count is down 1 to 14, up 1 year-over-year.
The Canada Rig Count is up 2 from last week to 212, with oil rigs up 1 to 145, gas rigs up 1 to 67.
The Canada Rig Count is up 46 rigs from last year’s count of 166, with oil rigs up 47, gas rigs down 1.
The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.
The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.
West Texas Intermediate (WTI) is down $1.18 to $87.84 per barrel (down from a high of $123.70). Brent crude is down $1.27 to $93.77 per barre (down from a high of $127.98). Gasoline last traded at $2.564 per gallon (down from a high of $4.31 per gallon).
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