U.S. oil drilling rig count recovery extends into 7th month: Baker Hughes
Reuters (12/2, DiSavino)

Thursday, January 25, 2018

Reuters (12/2, DiSavino) reported drillers “added three oil rigs in the week to Dec. 2, bringing the total count up to 477, the most since January, but still below the 545 rigs seen a year ago, energy services firm Baker Hughes Inc said on Friday.” Reuters characterized US energy companies as extending their recovery in oil drilling “into a seventh month this week as they follow through on plans to add rigs as crude rose to its highest price in over a year.” The Wall Street Journal (12/2, Steele, Subscription Publication) reported the gas-rig count rose by one to 119 last week while offshore drillers added one to that count, bringing the total to 22.