Baker Hughes: First Week July U.S. Rig Count Up 116.4%



According to oilfield services provider Baker Hughes, the combined U.S. oil and gas rig count is at 952, up 512 or 116.4% year-over-year.

As of July 7, 2017, the combined U.S. oil and gas rig count showed that the current mark is now at 952 — up 12 from a week earlier and up 135.6% since its low of 404 on May 20 and May 27, 2016.

The combined count had increased for 23 straight weeks until dipping by one two weeks ago. Oil rigs comprised 80.1% of the July 7 total.

Internationally, Baker Hughes noted the rig count for June 2017 was 960, up three from the previous month and up 33 or about 4% from the same month one year ago.

Canada’s rig count as of July 7, 2017 was 174, down 14 from the previous week, but up 94 for the same period one year-ago.


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com