Baker Hughes reports U.S. rig count up 7 to 491 rigs
Baker Hughes (BKR) reports that the U.S. rig count is up 7 from last week to 491 with oil rigs up 7 to 387, gas rigs unchanged at 104, and miscellaneous rigs unchanged at 0.
The U.S. Rig Count is up 240 rigs from last year’s count of 251, with oil rigs up 206 gas rigs up 36 and miscellaneous rigs down 2.
The U.S. Offshore Rig Count is unchanged at 17, up 5 year-over-year.
The Canada Rig Count is down 1 from last week to 149, with oil rigs down 1 to 93, gas rigs unchanged at 55 and miscellanous unchanged at 1.
The Canada Rig Count is up 107 rigs from last year’s count of 42, with oil rigs up 83, gas rigs up 23 and miscellaneous rig up 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 up 4 cents to $71.95 per barrel. Brent crude is up $0.17 to $73.96 per barrel. Gasoline last traded at $2.28 per gallon up a penny.
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