Rig Count

Rig Count – July 15, 2015

BHI revealed a weekly climb in the number of active U.S. rigs drilling for oil–the sixth-weekly climb in seven weeks.The number of rigs exploring for oil and natural gas in the U.S. increased by seven this week to 447. The rig count is just under 50% lower than last year and 43 above the record low since Baker Hughes started counting rigs in 1949.

Oil prices rose after news of an apparent military coup in Turkey.  Internationally traded Brent crude was up at $48.09 a barrel. U.S. West Texas Intermediate crude was last up at $46.28 a barrel.

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