A shot heard round the world Last November 27, OPEC sparked the decline in crude oil prices that would see both international benchmark Brent crude, and U.S. benchmark WTI crude, lose more than 50% of their value. The group decided to move away from its traditional role of maintaining a reasonable crude oil price in order to protect its market
Rig count hits five-year low The U.S. rig count continued to slide further even as WTI prices staged a comeback, climbing near $50 per barrel. The total rig count in the U.S. fell 14 rigs this week to 795 total rigs, according to Baker Hughes Industries (ticker: BHI). Rigs are down 69 from the beginning of August, and 814, or
The current running rig count of 809 in the United States is the lowest in five years, but analysts from Raymond James Equity Research believe we haven’t reached the trough yet. Not even close. In a market report issued on October 5, 2015, the firm believes lower-than-expected drilling activity and a delayed rebound in commodity prices will drag the U.S.
Oil Rigs Reach New Five-Year Low A few months ago, speculation of a rig count trough offered promise of the oil industry bottoming out. Since then, oil prices seem to have stabilized, but rig counts are a different story. The number of running domestic rigs fell for the sixth straight week on October 2, 2015, reaching 809. Of the 29
Total rig count continues decline for fifth consecutive week The current price environment has continued to put downward pressure on the number of active rigs operating in the United States. For the fifth consecutive week, Baker Hughes (ticker: BHI) reported the number of rigs in the U.S. declined, ending at 838, down from 842 a week ago. The number of
The number of running rigs in the United States fell for the second straight week in the latest analysis from Baker Hughes (ticker: BHI). A total of 13 rigs left the fleet for the week ended September 4, 2015, and now stands at 864. All of the subtracted rigs were focused on oil plays, and 11 were in Texas. The
Rig counts remain low along with prices The total rig count in the United States for the week ended August 28, 2015, fell eight rigs to 877, according to information from Baker Hughes (ticker: BHI). Rig counts have remained in the same 50-rig range since the week ended May 1, 2015, after falling precipitously along with oil prices since the
Baker Hughes rig count for the week ended August 21, 2015 Baker Hughes (ticker: BHI) reported an increase of just one rig to the total number of rigs drilling for oil and natural gas in the United States for the week ended August 21, 2015. The number of active rigs in the U.S. has remained relatively stable over the last
North Dakota at Lowest Rig Count Since January 2010 The number of total rigs drilling in the United States rose for the third straight week, according to the most recent rig count from Baker Hughes (ticker: BHI). Total rigs drilling in the U.S. reached 863 for the week ended July 10, 2015, up just one from last week. The slow
Baker Hughes (ticker: BHI) released its weekly rig count tally on Thursday, July 2 – one day earlier than normal in consideration of the July 4th Independence Day holiday. The United States added three rigs to its fleet in the latest report and now has 862 total. A total of 12 oil-focused rigs joined the fleet, breaking a 29-week decline
Baker Hughes rig count for the week ended June 19, 2015 The number of rigs drilling for oil and gas in the United States fell to 857 in the week ended June 19, 2015, a decline of just 2 rigs from last week. The 2 rig decline represents just a 0.3% decline in overall U.S. rig counts, and is the
Baker Hughes rig count for the week ended June 5, 2015 Rig counts fell to 868 in the first week of June, down 37 from the first of May when the total number of rigs in the U.S. numbered 905, according to the most recent rig count from Baker Hughes. The active rig count fell by about 1% again this
