Baker Hughes Shows Rig Count Increases

Baker Hughes Shows Rig Count Increases
Weekly rig counts are up for the USA and Canada.

The overall U.S. rotary rig count increased by two to 457 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted the U.S. oil rig tally rose by three to 359. The U.S. gas rig total declined by one to 98 and the miscellaneous rig count remained flat at zero, the service company added.

Compared to this time last year, when 301 rigs were operating, the U.S. is up 156 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 137-unit increase in oil rigs, a 21-unit gain in gas rigs, and a two-unit drop in the number of miscellaneous rigs. It added the U.S. offshore rig count held steady this week at 14 – compared to 12 a year ago.

Canada added four rigs to end the week at 62 units, Baker Hughes continued. The gain includes a three-unit increase in oil rigs, which now total 28, and a one-unit rise in gas rigs (to 34), the company added.

Year-over-year, Canada’s rig count is up 42, Baker Hughes stated. The firm pointed out that Canada has added 21 oil and another 21 gas rigs versus the year-ago figures.

Baker Hughes obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.

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