Baker Hughes Rig Count for the week ended May 15, 2015
Rig counts fell for another consecutive week to 888 active rigs in the United States, representing a 1% decline from last week’s rig count of 894, according to the weekly Baker Hughes (ticker: BHI) rig count. This marks the second week of 1% declines in the overall rig count total after several months of precipitous falls.
The total number of rigs drilling for oil declined 1% to 660 from 668 last week while the total number of rigs drilling for gas increased by two rigs, or 1%. The number of rigs drilling for gas has been relatively stable, with totals staying in the range of 217 to 225 rigs since the rig count released on April 2, 2015.
Texas saw the largest declines in rigs with the total rig count falling to 373, a decline of 6 rigs. Kansas saw four rigs added to its drilling fleet, Louisiana added 3, and Oklahoma, Utah and West Virginia all added one each. The rig counts in California, Colorado, New Mexico and Ohio all remained unchanged.
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. The company or companies covered in this note did not review the note prior to publication. 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.
