What is the Baker Hughes rig count?
The Baker Hughes rig count is an important business barometer for the oil drilling industry. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for oil products.
Does Baker Hughes rig count include offshore?
The monthly Baker Hughes International Rotary Rig Count presents the number of rigs working in each country, drilling on land or offshore, and drilling for oil, natural gas or for other purposes.
What is the current rig count in the Permian Basin?
247 rigs
In the major plays, the Permian Basin rig count is at 247 rigs, up 9 rigs from July.
Is rig count going up?
The total rig count has doubled, or risen by 254 rigs, over this time last year. For the month, drillers added 20 oil and gas rigs, putting the count up for 13 months in a row for the first time since July 2017.
Is Baker Hughes a GE company?
Baker Hughes, a GE company (NYSE:BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions.
What is the rig count in the United States?
The total rotary rig count in the U.S. now stands at 473 land rigs, 14 offshore rigs, and one inland water rig. Of these 488 rigs, 385 are oil rigs and 103 are gas rigs, Baker Hughes’ latest count shows.
What time is the Baker Hughes rig count?
noon
Baker Hughes initiated the monthly international rig count in 1975. The North American rig count is released weekly at noon Central Time on the last day of the work week.
How does rig count affect oil?
Further, the non-linear models show that the impact of oil returns on changes in rig counts becomes stronger when the oil returns take large negative values. Therefore, the oil impact is stronger during bearish oil markets. This result may have an implication for the recent 70% plunge in the oil prices.
Which company has the most oil rigs?
Nabors Industries Ltd. of Texas, United States generated a revenue of 2.1 billion U.S. dollars in 2020, making it one of the largest land drilling companies in the world. The company is also owner of the most land drilling rigs in the world. Among its closest competitors are Helmerich & Payne and Patterson-UTI Energy.
Is Baker Hughes a good company?
As far as oilfield service companies go, Baker Hughes is ranked up there as one of the best. They have a strong R&D culture and a positive “can do” attitude towards solving problems and getting the job done better and faster.
What is the Texas drilling rig count?
Texas Rig Count. Definition – What does Texas Rig Count mean? Texas Rig Count is an official listing of all oil and gas rigs that are operational at certain locations in the state of Texas. This count contains details such as the location of each rig and its functional status.
What is US land rig count?
At 705, the US land rig count has surpassed 700 for the first time since late 2015. According to the latest Baker Hughes rig report, a total of 729 onshore and offshore rigs are working in the United States.
What is the Oklahoma rig count?
Oklahoma’s rig count is 102, up two from one week prior and down 27% from 140 a year prior.
What is offshore rig count?
Offshore Rig Count. Definition – What does Offshore Rig Count mean? Offshore Rig Count is the totaling of all the rigs installed in an offshore site. This count process is the main source of accumulating the data related to the functional and non-functional rigs that are in use. There are organizations which offer the Offshore Rig Count services.