Current BHI Stock Info

Rig count for the week ended March 20, 2015

Rig counts in the United States fell for the fifteenth straight week, according to the latest weekly report from Baker Hughes (ticker: BHI). Fifty-six wells were laid down this past week, bringing the total count in the U.S. to 1,069, down 5% from 1,125 last week.

Oil rigs continue to be the hardest hit in absolute numbers, falling to 825 this week, down 5% from 866 last week. Gas rigs fell to 242 wells, down 6% from 257 wells in the week ended March 13, 2015. Oil rigs are down 648 from the total of 1,473 active rigs at this time last year.

The DJ and Marcellus both saw marginally increased rig counts this week, going against the downward trend seen throughout most of the rest of the U.S. In the DJ Basin, one oil well was added, while in the Marcellus six rigs drilling for gas came online during the week. One rig drilling for gas was also added to the Arkoma Woodford, and two drilling for oil were added in the Mississippian.

In most basins, rigs continued to be laid down. The Permian saw the sharpest fall this week, laying down 19. The second hardest hit basin this week was the Eagle Ford, which saw eight fewer rigs from this time last week.

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