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Friday, September 30, 2022
HomeNewsEconomyBaker-Hughes Rig Count (8/4/17) Falls for Only Second Time in 14 Weeks

Baker-Hughes Rig Count (8/4/17) Falls for Only Second Time in 14 Weeks

An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)
An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)

An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)

The Baker-Hughes Rig Count for North America fell 7 rigs in the week ending August 4 to 1,171, which is only the second decline in the last 14 weeks.

The U.S. count, down 4 rigs to 954, i still up nearly double (495 rigs) from last year at this time. Rigs classified as drilling for oil are down 21 to 765 and gas rigs by 3 to 217. Gas rigs are up 95 from the prior year.

The Canadian rig count was down by 3 to 217, and is now up 101 rigs from last year. Oil rigs classified are down 5 to 124 and gas rigs are up 2 to 93.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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