Baker Hughes: Latest Rig Counts Up 12.7% Year/Year

According to Baker Hughes, the oil rig count in the U.S. was 1,055, up 119 or 12.7% from 936 a year earlier.

The 1,055 rigs were comprised of 921 horizontal rigs, 63 vertical rigs and 71 directional rigs.

The data shows that Texas, with a total rig count of 525, accounted for 50% of the total rigs.

The Baker Hughes Rig Counts active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.

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