Now exactly one year past bottom of rig count
Baker Hughes (ticker: BHI) released its weekly rig count today, showing an increase in active U.S. rigs for the nineteenth- straight week. After breaking 900 for the first time since 2015 last week, American rigs continued their growth this week, ending at 908 active rigs. A total of 504 more rigs are online today than this time last year. In fact, this time last year was the bottom of the rig count cycle, when there were only 404 rigs online in the U.S.

Seven rigs came online in the U.S., all l...

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