Tag Archives: Rig count

Oil Price Commentary: A Positive Week Ahead for Oil Price

Last Week Oil Market Data: Crude Oil Price Movement: Oil prices moved higher last week on support from OPEC production cut extension, decline in U.S. crude oil production and draw-down in U.S. crude oil and gasoline stockpiles. Brent crude and WTI closed the week up by more than 5 percent to around $53.80/bbl and $50.85/bbl […]

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Rig Count Overview & Summary 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 […]

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US oil rig count rises for 7th straight week, Baker Hughes says

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 […]

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Rig count hops up 12; Permian Basin again drives rise

The number of oil and gas rigs in U.S. fields rose again this week, up 12 or about 170 over the past three months. This week’s count marks the fourth increase in a row, and a boom of more than 335 rigs since the count fell to its recent low, last spring. U.S. oil drillers […]

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U.S. rig count rises by 10, international count down 28

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 […]

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Eagle Ford sees first drilling activity increase in 6 months

It’s a mixed bag of economic indicators for the Eagle Ford Shale where one report says crude oil production is down and another says new drilling activity is up for the first time in six months. The U.S. Energy Information Administration (EIA) released a report on Wednesday that stated oil production in the Eagle Ford […]

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The Biggest 2-Week Rig Drop Since The 1980’s

US Drilling Sees The Biggest 2-Week Rig Drop Since The 1980s Over the past two weeks, the US land rig count has fallen 171 rigs. That’s more than any two-week period during the downturns of 2008, 2001, or 1998. In just the past 3 months, the rig count has fallen 25%, about 467 rigs. We […]

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Baker Hughes Announces July 2012 Rig Counts

HOUSTON, Aug. 7, 2012 /PRNewswire/ — Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for July 2012 was 1,264, down 21 from the 1,285 counted in June 2012, and up 114 from the 1,150 counted in July 2011. The international offshore rig count for July 2012 was 286, down 19 from the 305 […]

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