Baker Hughes earlier today announced that the Baker Hughes international rig count for July 2020 was 743, lower than the 781 counted in June 2020 by 38 and down 419 from the 1,162 counted in July 2019.
The international offshore rig count for July 2020 was 183, down 11 from the 194 counted in June 2020, and 72 lower than the 255 counted in July 2019.
The international rig count covers all continents and/or regions except for North America which is made up of The United States and Canada.
The biggest drop for the international rigs came from the Middle East region, where the number of rigs in July 2020 was down to 315, lower than the 343 recorded in June 2020 by 28.
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The average U.S. rig count for July 2020 was 255, down 19 from the 274 counted in June 2020, and down 700 from the 955 counted in July 2019.
The worldwide rig count for July 2020 was 1,030, down 43 from the 1,073 counted in June 2020, and down 1,208 from the 2,238 counted in July 2019.
Source: Baker Hughes
The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets. The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide.
Written by;
Nnamdi M.
