Published on 21 Mar 2023 on Zacks via Yahoo Finance
Permian Oil Rig Count Rises After 4 Straight Weeks of Decline
In its weekly release, Baker Hughes Company BKR stated that the U.S. rig count was higher than the prior-week tally. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.
Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the prior-week figure indicates the demand trajectory for Baker Hughes’ oilfield services from exploration and production companies.
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