Baker Hughes reports U.S. rig count up 13 to 601 rigs
Baker Hughes (BKR) reports that the U.S. rig count is up 13 from last week to 601 with oil rigs up 11 to 492, gas up 2 to 109, and miscellaneous rigs unchanged at 0.
The U.S. Rig Count is up 228 rigs from last year’s count of 373, with oil rigs up 205 gas rigs up 24 and miscellaneous rigs down 1.
The U.S. Offshore Rig Count is up 2 to 18, up 2 year-over-year.
The Canada Rig Count is up 50 from last week to 191, with oil rigs up 43 to 121, gas rigs up 7 to 70.
Canada Rig Count is up 30 rigs from last year’s count of 161, with oil rigs up 31, 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 up $1.80 to $83.92 per barrel. Brent crude is up $1.71 to $86.22 per barrel. Gasoline last traded at $2.421 per gallon up 3.7 cents on the day. Get ready to pay more at the pump.
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