facebook
twitter
rss
account
search
search
 

Baker Hughes: U.S. rig count increasing

Baker Hughes reports an increase in U.S. rig activity.
By Daniel J. Graeber   |   April 7, 2014 at 10:24 AM   |   Comments

| License Photo
HOUSTON, April 7 (UPI) -- The number of rigs actively exploring for oil and natural gas in the United States was up more than 2.5 percent in March year-on-year, Baker Hughes said Monday.

Oil services company Baker Hughes released its rig count for March. The average count for the United States was up 34 from the 1,769 counted in February and up 47 from March 2013.

In its latest assessment, the U.S. Energy Information Administration said more than 90 percent of the active rigs were spinning onshore. More than 80 percent were targeting crude oil reserves.

The United States had more active rigs counted than any other region in the world, according to Baker Hughes. U.S. oil production is expected to reach 8.4 million barrels per day this year, an increase of nearly 1 million bpd from the previous year.

The oil services company said the Canadian rig country for March was down 15 year-on-year. The international rig count was up for most regions, with Latin America accounting for most of the increase.

Baker Hughes rig counts asses the number of rigs actively exploring for or developing oil or natural gas in the world.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Brazil Air Force, Saab discuss Gripen procurement deal
2
Kurds raise oil funds for refugees
3
Google completes first phase of testing drone delivery system
4
Abercrombie & Fitch axes logos after years of declining sales and bad press
5
U.S. oil pipeline output increasing
Trending News
Video
x
Feedback