Large drop in gas rigs: rigs drilling for natural gas is 53% lower than gas rig count at the end of 2014 The total number of rigs drilling for oil and gas in the United States hit 700 in the week ended December 23, 2015, down nine rigs from the previous week. The data collected by Baker Hughes (ticker: BHI)
There was no change to the United States running rig count in the latest weekly report conducted by Baker Hughes, leaving the overall number at 709 with just one report remaining in fiscal 2015. While the number did not change, there was a significant swing in the targets of operations. Seventeen gas-focused rigs were laid down within the week, which
United States, Australia U.S. Department of Justice Still Not Satisfied with Terms Industry enthusiasts waiting for approval of the impending merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) will have to wait a little longer. For the third time, the United States Department of Justice (DOJ) halted approval of the highly publicized merger between two of the world’s
Oil rig count continues to lead decline, shedding 10 this week alone The total number of rigs drilling in the United States declined every week through the month of November, according to information released by Baker Hughes (ticker: BHI). The total U.S. rig count fell by seven this week to 737 from 744 last week. The total rig count is
First Proposal Denied due to “Insufficient Data” Halliburton (ticker: HAL) remains adamant on closing its $35 billion merger with Baker Hughes (ticker: BHI) by year-end, and the two oilservice giants progressed on the antitrust side by resubmitting a regulatory filing to the European Commission (EU) on November 27, 2015. The previous proposal, submitted in July, was denied due to “insufficient
Overall rig count down again due to fewer rigs seeking gas Baker Hughes (ticker: BHI) released its weekly rig counts, indicating that the number of rigs drilling for oil in the United States increased for the first time in 10 weeks. While more rigs were drilling for oil in the U.S. than in previous weeks, the overall number of active
Capital will be raised in Five Tranches Advocates for the highly scrutinized merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) possibly received the most positive news to date in a news release issued on November 5, 2015. Halliburton, the world’s second largest oilservice provider by market capitalization, will issue a total of $7.5 billion in senior notes to
Total rig count follows similar trend as oil rigs The number of rigs drilling for oil in the United States declined again, continuing the trend for a tenth straight week. According to Baker Hughes (ticker: BHI) the number of rigs drilling fell by six to 572 for the week ended November 6, 2015. The count for rigs drilling for oil
U.S. rig count takes another dip The U.S. rig count fell again this week after a week of no changes to the total count. According to Baker Hughes (ticker: BHI) the total number of rigs drilling in the United States fell to 775 in the week ended October 30, 2015. The number of total rigs in now 60% below its
Oil and gas rig counts hold total in balance The total rig count for active U.S. rigs held steady at 787 after 8 consecutive weeks of falling. The last time the U.S. rig count remained the same week-over-week was the week ended August 14, 2015, when it was at 884, before climbing by one rig, and then declining by 98
Total rig count continues decline for fifth consecutive week The current price environment has continued to put downward pressure on the number of active rigs operating in the United States. For the fifth consecutive week, Baker Hughes (ticker: BHI) reported the number of rigs in the U.S. declined, ending at 838, down from 842 a week ago. The number of
Total rig count continued to decline for the fourth straight week The U.S. total rig count continued its decline this week, according to the information released by Baker Hughes (ticker: BHI) today. The rig count stood at 842, down 6 from last week, due to losses from rigs drilling for oil. Eight oil-drilling rigs were shuttered-in this week, bringing the
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