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Baker Hughes, a GE Company Announces February 2018 Rig Counts

Mar 7, 2018

HOUSTON & LONDON--(BUSINESS WIRE)--Mar. 7, 2018-- Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for February 2018 was 979, up 19 from the 960 counted in January 2018, and up 38 from the 941 counted in February 2017. The international offshore rig count for February 2018 was 194, down 2 from the 196 counted in January 2018, and down 6 from the 200 counted in February 2017.

The average U.S. rig count for February 2018 was 969, up 32 from the 937 counted in January 2018, and up 225 from the 744 counted in February 2017. The average Canadian rig count for February 2018 was 323, up 45 from the 278 counted in January 2018, and down 19 from the 342 counted in February 2017.

The worldwide rig count for February 2018 was 2,271, up 96 from the 2,175 counted in January 2018, and up 244 from the 2,027 counted in February 2017.

February 2018 Rig Counts

 
         

February 2018

         

January 2018

           

February 2017

 
            Land     Offshore     Total           Month Variance     Land     Offshore     Total             Land     Offshore     Total
                           
Latin America 169 30 199 8 165 26 191 147 32 179
Europe 55 29 84 0 57 27 84 69 38 107
Africa 74 16 90 10 69 11 80 68 9 77
Middle East 356 40 396 13 342 41 383 337 45 382
Asia Pacific 131     79     210 -12       131     91     222 120     76     196
International 785 194 979 19 764 196 960 741 200 941
 
United States 952 17 969 32 919 18 937 724 20 744
Canada 321     2     323 45       277     1     278 340     2     342
North America 1,273 19 1,292 77 1,196 19 1,215 1,064 22 1,086
                                                 
Worldwide 2,058     213     2,271 96       1,960     215     2,175 1,805     222     2,027
 

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 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
Media Relations:
Stephanie Cathcart, +1 202-549-6462
stephanie.cathcart@bhge.com
Melanie Kania, +1 713-439-8303
melanie.kania@bhge.com
or
Investor Relations:
Philipp Mueller, +1 281-809-9088
investor.relations@bhge.com

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