Rig Counts Rise!

Baker Hughes reports U.S. rig count up 3 to 269 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 3 from last week to 269.  That is down 587 units from the 856 rigs working this time a year ago.

The international offshore rig count for April 2018 was 194. Stockwinners

The number of rigs drilling on land was up 3 week-over-week with a total of 254 units. The number of rigs drilling in inland waters was unchanged at 1 unit for the week. The number of rigs drilling offshore was unchanged at 14.

Baker Hughes publishes rig data weekly

US oil rigs increased by 4 from last week to reach 193 units compared to 712 a year ago. Rigs targeting gas decreased by one unit to reach 73 rigs, 70 fewer than were drilling for gas at this time a year ago.

Brent crude is down $0.52 to $42.82 per barrel. West Texas Intermediate (WTI) crude is down $0.56 to $40.63 per barrel.

Gasoline last traded at $1.20 per gallon down three cents.

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.