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Baker Hughes rig count for the week ended May 29, 2015

The total number of rigs in the United States fell to 875 in the week ended May 29, 2015, according to the most recent numbers released by Baker Hughes (ticker: BHI). The rig counts fell approximately 1% from last week when they stood at 885.

The number of rigs drilling for oil fell 2% to 646 from 659. The number of rigs drilling for gas rose slightly to 225 from 222 last week. The number of rigs drilling for gas in the U.S. has stayed in the same seven-rig range for nine consecutive weeks while oil rigs continue to trend downward.

The largest decline in the last week was seen in Texas, which lost four rigs, followed by California, which laid down three rigs last week. Arkansas, Louisiana and Pennsylvania all lost two rigs while North Dakota lost one.  Colorado and Oklahoma each added two rigs to their counts, while Alaska and New Mexico added one each.

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Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.