Baker Hughes announces May 2014 rig counts

Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for May 2014 was 1,350, up 1 from the 1,349 counted in April 2014, and up 67 from the 1,283 counted in May 2013. The international offshore rig count for May 2014 was 326, down 3 from the 329 counted in April 2014, and down 1 from the 327 counted in May 2013.

The average U.S. rig count for May 2014 was 1,859, up 24 from the 1,835 counted in April 2014, and up 92 from the 1,767 counted in May 2013. The average Canadian rig count for May 2014 was 162, down 42 from the 204 counted in April 2014, and up 34 from the 128 counted in May 2013.

The worldwide rig count for May 2014 was 3,371, down 17 from the 3,388 counted in April 2014, and up 193 from the 3,178 counted in May 2013.

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.

North American rig count data 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 5th working day of the month.

Copyright, Baker Hughes, 2014.