U.S. drillers cut oil and gas rigs for second time in three weeks, says Baker Hughes [BNN Bloomberg (Canada)]
Baker Hughes Company (BKR)
Company Research
Source: BNN Bloomberg
The oil and gas rig count, an early indicator of future output, fell by one to 548 in the week to Dec. 12, the lowest since Nov. 26. Baker Hughes said this week's decline puts the total rig count down 41 rigs, or 6.9 per cent below this time last year. Baker Hughes said oil rigs rose by one to 414 this week, their highest since November 21, while gas rigs fell by two to 127. 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 CLc1 and gas NGc1 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 million barrels per day in 2024 to around 13.6 million bpd in 2025. On the gas side, EIA projected a 63 per cent increase in spot
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News
- US Drillers Add Oil Rigs As Analysts Warn of Incoming Glut [Yahoo! Finance]Yahoo! Finance
- Baker Hughes (NASDAQ:BKR) had its "neutral" rating reaffirmed by analysts at UBS Group AG.MarketBeat
- Baker Hughes (NASDAQ:BKR) had its "buy" rating reaffirmed by analysts at Citigroup Inc..MarketBeat
- North America Adds Rigs Week on Week [Yahoo! Finance]Yahoo! Finance
- Is Baker Hughes Company's (NASDAQ:BKR) Latest Stock Performance Being Led By Its Strong Fundamentals? [Yahoo! Finance]Yahoo! Finance
BKR
Earnings
- 10/23/25 - Beat
BKR
Sec Filings
- 11/14/25 - Form 4
- 11/13/25 - Form 144
- 11/7/25 - Form 8-K
- BKR's page on the SEC website