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Tuesday, May 17, 2022
HomeNewsEconomyBaker-Hughes Rig Count (8/18/17) Falls for the Fourth Time in 16 Weeks

Baker-Hughes Rig Count (8/18/17) Falls for the Fourth Time in 16 Weeks

The U.S. flag is displayed at Tesoro's Los Angeles oil refinery in Los Angeles, California. (Photo: Reuters)
The U.S. flag is displayed at Tesoro's Los Angeles oil refinery in Los Angeles, California. (Photo: Reuters)

The U.S. flag is displayed at Tesoro’s Los Angeles oil refinery in Los Angeles, California. (Photo: Reuters)

The Baker-Hughes North American rig count fell again for the fourth time in 16 weeks, down by 9 rigs for the week ending August 18, 2017.

The U.S. count, down 3 rigs to 946, is still up nearly double (455 rigs) from last year. Rigs classified as drilling for oil are down 5 to 763 and gas rigs are up by 1 to 182. Oil rigs are up 406 over the previous year, while gas rigs are up 83.

The Canadian rig count was down by 6 to 214, and is now up 121 rigs from last year. Rigs classified as oil are down 6 to 121, though still 65 rigs higher than last year. Gas rigs are unchanged at 93 and are 56 rigs higher than at this point in 2016.

The North American rig count is released weekly at noon central time on the last day of the work week.

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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