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Baker Hughes, a GE Company Announces October 2017 Rig Counts

November 7, 2017 at 6:00 AM EST

HOUSTON & LONDON--(BUSINESS WIRE)--Nov. 7, 2017-- Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for October 2017 was 951, up 20 from the 931 counted in September 2017, and up 31 from the 920 counted in October 2016. The international offshore rig count for October 2017 was 204, up 14 from the 190 counted in September 2017, and up 4 from the 200 counted in October 2016.

The average US rig count for October 2017 was 922, down 18 from the 940 counted in September 2017, and up 378 from the 544 counted in October 2016. The average Canadian rig count for October 2017 was 204, down 6 from the 210 counted in September 2017, and up 48 from the 156 counted in October 2016.

The worldwide rig count for October 2017 was 2,077, down 4 from the 2,081 counted in September 2017, and up 457 from the 1,620 counted in October 2016.

October 2017 Rig Counts

                               
  October   2017     September   2017     October   2016
    Land   Offshore   Total  

Month
Variance

   Land   Offshore   Total     Land   Offshore   Total
     
Latin America 151 26 177 0 150 27 177 153 30 183
Europe 61 30 91 0 58 33 91 63 24 87
Africa 71 14 85 6 66 13 79 67 10 77
Middle East 340 45 385 -10 347 48 395 339 52 391
Asia Pacific 124   89   213 24 120   69   189 98   84   182
International 747 204 951 20 741 190 931 720 200 920
 
United States 901 21 922 -18 922 18 940 521 23 544
Canada 202   2   204 -6 209   1   210 154   2   156
North America 1,103 23 1,126 -24 1,131 19 1,150 675 25 700
                               
Worldwide 1,850   227   2,077 -4 1,872   209   2,081 1,395   225   1,620
                                           
 

About the Baker Hughes Rig Counts

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.

The North American rig count is scheduled to be released at noon Central time on the last working day of each week. The international rig count is scheduled to be released on the fifth working day of the month at 5:00 a.m. Central time. Additional detailed information on the Baker Hughes rig counts is available from our website.

About 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. We deploy minds and machines to enhance customer productivity, safety and environmental stewardship, while minimizing costs and risks at every step of the energy value chain. With operations in over 120 countries, we infuse over a century of experience with the spirit of a startup – inventing smarter ways to bring energy to the world.

Source: Baker Hughes, a GE company (BHGE)

Baker Hughes, a GE company
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