The number of offshore rigs in the U.S. dropped to 22 units last week, according to weekly rig count reports released on Friday by Baker Hughes Company.
Baker Hughes Rig Count: U.S. -5 to 851 rigs
U.S. Rig Count is down 5 rigs from last week to 851, with oil rigs up 1 to 713, gas rigs down 6 to 137, and miscellaneous rigs unchanged at 1.
U.S. Rig Count is down 216 rigs from last year’s count of 1,067, with oil rigs down 160, gas rigs down 57, and miscellaneous rigs up 1 to 1.
The U.S. Offshore Rig Count is down 2 to 22 and up 2 rigs year-over-year.
Baker Hughes Rig Count: Canada -3 rigs to 143 rigs
Canada Rig Count is down 3 rigs from last week to 143, with oil rigs down 4 to 98 and gas rigs up 1 to 45.
Canada Rig Count is down 48 rigs from last year’s count of 191, with oil rigs down 25 and gas rigs down 23.
It is worth reminding that Baker Hughes changed its name to Baker Hughes Company last week following the recently-completed secondary offering of shares of Class A common stock and concurrent share repurchase which brought GE’s ownership in the company to below 50 percent of the voting power.
According to Baker Hughes, its new name and brand better reflect its current and intended principal business operations and diversified portfolio.
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