Baker Hughes

Drop in Rig Counts in the U.S Stabilizing as Compared to Last Week

In the most recent count by Baker Hughes Inc, the number of U.S. land rigs dropped by seven units. Compared to the earlier week, the changes among significant plays were unassuming.

There were three additions to the Permian Basin with a total of 37 active rigs. The Haynesville had one unit more with its total going up to fourteen. There was a gain in Cana Woodford with addition of two rigs with the total reaching twenty nine. It the earlier survey for the week that ended on May 13, Baker Hughes Inc had said that nine rigs left and among them six rigs from land.

A Decline in Operating Profit: Suspects Baker Hughes

Baker-HughesConsidering the changing market conditions, Baker Hughes Inc. BHI suspects the chances of its first-quarter operating profit to decline from the preceding quarter by 5.81%. According to their calculations and survey, it seems that due to market conditions, their product line has been badly affected in North America.