Baker
Hughes announces February 2004 rig counts
Posted: 5 March 2004
International Rig Count Down 1 per cent From January 2004;
Up 5 per cent From One Year Ago; Worldwide Rig Count Up 1 per cent
From January 2004; Up 12 per cent From One Year Ago
Baker Hughes Incorporated said the international rig count for
February 2004 was 790, down 12 from the 802 counted in January 2004,
and up 38 from the 752 counted in February 2003. The international
offshore rig count for February 2004 was 236, up two from the 234
counted in January 2004, and up 18 from the 218 counted in February
2003.
The US rig count for February 2004 was 1,119, up 18 from the 1,101
counted in January 2004 and up 212 from the 907 counted in February
2003. The Canadian rig count for February 2004 was 568, up 14 from
the 554 counted in January 2004 and up 14 from the 554 counted in
February 2003.
The worldwide rig count for February 2004 was 2,477 up 20 from
the 2,457 counted in January 2004 and up 264 from the 2,213 counted
in February 2003.
About the Baker Hughes Rig Counts
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. Hughes initiated the monthly international
rig count in 1975. In 1987, Baker Oil Tools began its monthly workover
rig count.
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 and North American workover rig counts are scheduled to
be released on the 5th working day of the month.
Additional detailed information on the Baker Hughes rig counts
are available from our website at http://www.bakerhughes.com/investor/rig.
Baker Hughes is a leading provider of drilling, formation evaluation,
completion and production products and services to the worldwide
oil and gas industry.
For more information see http://www.bakerhughes.com
Posted by Richard Price,
Editor Pipeline Magazine
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