U.S. drillers add oil, gas rigs for second week in a row, Baker Hughes says [BNN Bloomberg (Canada)]
Baker Hughes Company (BKR)
Company Research
Source: BNN Bloomberg
The oil and gas rig count, an early indicator of future output, rose by one to 546 in the week to Dec. 30, its highest since Dec. 12. Baker Hughes released the rig count report a few days early due to the New Year's Day holiday. Despite this week's rig increase, Baker Hughes said the total count was still down 43 rigs, or 7.3 per cent below this time last year. Baker Hughes said oil rigs rose by three to 412 this week, their highest since Dec. 12, while gas rigs fell by two to 125, their lowest since Nov. 14. The oil and gas rig count declined by about five per cent in 2024 and 20 per cent in 2023, as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output. Even though analysts forecast U.S. spot crude prices would decline for a third year in a row in 2025, the U.S. Energy Information Administration projected crude output would rise from a record 13.2 m
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BKR
Earnings
- 10/23/25 - Beat
BKR
Sec Filings
- 12/17/25 - Form 4
- 12/17/25 - Form 4
- 12/17/25 - Form 4
- BKR's page on the SEC website