Baker Hughes Report:
Baker Hughes - Petroleum Industry:
Baker Hughes is a leading supplier of oil field services, technology and systems to the worldwide oil and natural gas industry. Baker Hughes issues the weekly rotary rig counts of U.S. and Canadian drilling activity, as a service to the petroleum industry since 1944. 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 of the work week. The International rig count is released on the fifth working day of each month.
The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.
Over view of Rig Count as on 22nd November, 2017
Oil and gas drilling activity shows another momentum for the third straight week. The nine numbers of active drilling rigs were added to oil although one gas rig was counted down, altogether coming to a net count of 8 additional rigs were reported by the Baker Hughes data.
The U.S has added 8 rig machines, coming to 923 while Canadians added 7 rig machines to 215, both together 1138 rigs are into operation in North America, compared to 767 rigs in place a year back. 22 rigs are into operation in the Gulf of Mexico with an additional rig of 1 from last week, Compared to 23nos a year ago. Colorado, Louisiana, New Mexico and Texas added 1 rig each respectively while Utah state has taken out 1 rig. Permian gulf basin is operating highest number of rigs of Nos.393, more than half of the nation's oil rigs. The Next most active area is Oklahoma's Cana-Woodford shale with 73 rigs followed by Eagle Ford and Williston. 20 Rigs were added to the International market and summed up to the total count of 951 nos. Which increased 31 nos from the last count in the month of Oct, 2017.
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