U.S. energy companies cut four oil rigs in the week ending Jan. 11, bringing the total count to 873, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count rose by four rigs to 202 rigs for the week, compared to 187 rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is still much higher than a year ago when 752 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending Jan. 11

Week-on-week change

YoY

Oil

752

877

873

(4)

121+

Gas

187

198

202

 4+

15+

Oil & Gas

939

1075

1075

0

136+

Comments 0

Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website