Tradequip Blog & Oilfield Industry News

The number of U.S. rigs drilling for oil saw its first increase in three weeks, Baker Hughes said Friday in its weekly report. U.S. crude oil was on track to post its second straight weekly gain Friday, largely on concerns about an expected decline in supply from Iran due to U.S. sanctions and Venezuela’s declining […]

HOUSTON – PESA, the national trade association for the oilfield service, supply and manufacturing sector, offers an introduction to the industry with the highly-acclaimed Oil & Gas 101 seminar October 11-12 at Baker Hughes, a GE company.   As the service and supply sector has become more technologically advanced and specialized, a thorough and broad […]

GE Oil & Gas and Baker Hughes completed their planned merger, which will create an entity that offers GE’s digital solutions and Baker Hughes domain expertise as oilfield services provider.                                                   […]

U.S. energy firms added oil rigs for a record 23rd week in a row, extending a year-long drilling recovery as producers boost spending on expectations crude prices will rise in future months despite this week’s decline to a 10-month low. Drillers added 11 oil rigs in the week to June 23, bringing the total count […]

Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of U.S. and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. The North American rig count is released weekly at noon central time on the last day […]

The US oil-rig count rose by seven to 609 this week, according to oilfield-services giant Baker Hughes. The gas rig count fell by five to 146. With miscellaneous rigs unchanged at one, the total rig count rose by two to 756. Last week the tally of oil rigs rose by six. West Texas Intermediate crude oil futures […]

HOUSTON — The U.S. oil rig count increased by six this week, with more rigs added in the Permian basin, according to Baker Hughes. The count had declined for 29 weeks until July 2, when oil companies began sending rigs back to oil fields in Texas and elsewhere. After U.S. oil prices settled near $60 a barrel for an […]

By Swetha Gopinath (Reuters) – Halliburton Co said on Monday it will buy Baker Hughes Inc for about $35 billion (22.37 billion pounds) in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV as customers curb spending on falling oil prices. “Stronger in any market condition is better,” he […]

Predominant challenges that the data management industry faces are a lack of data management solutions, and the information that is generated in exploration and production is much greater than that compared to other industries. This enormous volume of data needs to be analyzed properly; once this is achieved it could be applied to earn an […]