Baker Hughes reports the United States rig count declined by another 22 rigs in its latest report on April 24, 2015. There are currently 932 rigs running in the United States – the lowest amount since October 2010. The state of Texas dipped below the 400-rig threshold for the first time since October 2009.
Approximately 75% of running rigs are active in oil windows, the lowest oil-focused mix in more than two years.
The number of active U.S. rigs has declined by about 10% in the month of April. Meanwhile, the prices of West Texas Intermediate (WTI) have climbed nearly 20%. The WTI price closed today at $57.42.
Source: Business Insider
Like this article? Sign-up for Closing Bell and we’ll e-mail you more.
[yks-mailchimp-list id=”a32a355444″ submit_text=”Closing Bell Sign-up”]
[yks-mailchimp-list id=”a32a355444″ submit_text=”Closing Bell Sign-up”]
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.
