Baker Hughes Inc. (NYSE: BHI) has released its weekly rig counts for the U.S., Canada, and international. While oil continues to stay high, the rig count picture is a mixed.
The U.S. Rig Count was up 2 from last week at 968; down 1022 year-over-year.
The Canadian Rig Count fell 25 from last week at 170; down 256 year-over-year. That is a disappointment.
The US Offshore rig count is 31, up 1 from last week; down 33 year-over-year.
Unfortunately, higher oil prices may only be so much help.
Jon C. Ogg
August 14, 2009
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