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Baker Hughes, a GE Company Announces March 2018 Rig Counts

Apr 6, 2018

HOUSTON & LONDON--(BUSINESS WIRE)--Apr. 6, 2018-- Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for March 2018 was 972, down 7 from the 979 counted in February 2018, and up 29 from the 943 counted in March 2017. The international offshore rig count for March 2018 was 185, down 9 from the 194 counted in February 2018, and down 12 from the 197 counted in March 2017.

The average U.S. rig count for March 2018 was 989, up 20 from the 969 counted in February 2018, and up 200 from the 789 counted in March 2017. The average Canadian rig count for March 2018 was 218, down 105 from the 323 counted in February 2018, and down 35 from the 253 counted in March 2017.

The worldwide rig count for March 2018 was 2,179, down 92 from the 2,271 counted in February 2018, and up 194 from the 1,985 counted in March 2017.

March 2018 Rig Counts

                         
      March2018       February2018       March2017
        Land     Offshore     Total      

Month
Variance

    Land     Offshore     Total       Land     Offshore     Total
                           
Latin America 167 26 193 -6 169 30 199 150 35 185
Europe 56 33 89 5 55 29 84 63 31 94
Africa 78 11 89 -1 74 16 90 70 10 80
Middle East 353 44 397 1 356 40 396 341 45 386
Asia Pacific 133     71     204 -6     131     79     210 122     76     198
International 787 185 972 -7 785 194 979 746 197 943
 
United States 976 13 989 20 952 17 969 770 19 789
Canada 215     3     218 -105     321     2     323 252     1     253
North America 1,191 16 1,207 -85 1,273 19 1,292 1,022 20 1,042
                                               
Worldwide 1,978     201     2,179 -92     2,058     213     2,271 1,768     217     1,985
                                                                   
 

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
Media Relations:
Stephanie Cathcart, +1 202-549-6462
stephanie.cathcart@bhge.com
or
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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