11212017Tue
Last updateTue, 21 Nov 2017 4pm

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End-User News

Baker Hughes Rig Count Up Nine Last Week

“Drillers added nine oil rigs in the week to Nov. 10, bringing the total count up to 738, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday.” This was the most rigs added in a single week since June.

Reuters reports that the rig count is “much higher than a year ago when only 452 rigs were active after energy companies boosted spending plans for 2017 in the second half of last year as crude started recovering from a two-year price crash.” 

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