Baker Hughes Rig Counts: International Offshore Rigs Up by 11 (USA)

Baker Hughes: International Offshore Rigs Up by 11  (USA)

Baker Hughes Incorporated announced today that the international rig count for February 2012 was 1,204, up 33 from the 1,171 counted in January 2012, and up 15 from the 1,189 counted in February 2011.

The international offshore rig count for February 2012 was 320, up 13 from the 307 counted in January 2012 and up 11 from the 309 counted in February 2011.

The US rig count for February 2012 was 1,981, down 27 from the 2,008 counted in January 2012 and up 282 from the 1,699 counted in February 2011. The Canadian rig count for February 2012 was 701, down 19 from the 682 counted in January 2012 and up 78 from the 623 counted in February 2011.

The worldwide rig count for February 2012 was 3,886 up 25 from the 3,861 counted in January 2012 and up 375 from the 3,511 counted in February 2011.

The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States, Canada and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of US and Canadian drilling activity. Baker Hughes initiated the monthly international rig count in 1975.

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Source: Baker Hughes, March 7, 2012

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