The Number of Oil and Gas Rigs Worldwide Declined in May Due to North America
The Number of Active Oil and Gas Rigs Worldwide Decreased by 40 in May Compared to the Previous Month, Mainly Due to North America, According to U.S. Oilfield Services Company Baker Hughes. On average, 1,576 rigs were operating worldwide, compared to 1,616 in April. The May level was also 99 …
U.S. Oil Producers Predict the Decline of the Shale Boom
Major oil companies are now openly discussing the end of the shale boom in the United States, attributing it to Donald Trump’s trade policy, which has led to a decline in commodity prices, according to the Financial Times. Market participants told the publication that they are being forced to reduce …
“Drill, Baby, Drill” Did Not Work: From Savior to Gravedigger — Donald Trump’s Transformation
In the United States of America, the number of active oil and gas drilling rigs fell to 578 units by the end of the first week of May, down from 586 units in April. This represents the lowest level since the beginning of the current year. According to Baker Hughes, …
Oilfield Services Company Baker Hughes Reduces Net Profit by 12 Percent in the First Quarter
The American oilfield services company Baker Hughes Company reported a 12 percent decline in net profit for the first quarter of 2025, while its adjusted earnings increased by 19 percent, exceeding analyst expectations. From January through March, Baker Hughes posted a net profit of 402 million United States dollars, compared …
Baker Hughes: U.S. Rig Count Rises for the First Time in Four Weeks
The number of active drilling rigs in the U.S. — a key indicator of future hydrocarbon production — increased by 2 unitsin the week ending April 17, marking the first uptick in four weeks, according to Baker Hughes. The total U.S. rig count now stands at 585, which is 34 …
Baker Hughes and Iraq to Sign Memorandum on Investments in the Country’s Gas Sector
The American oilfield services company Baker Hughes Co. is preparing to sign a memorandum on investments in the Iraqi gas sector, the office of Prime Minister of the Republic Mohammed al–Sudani said after his meeting with CEO Lorenzo Simonelli. The draft agreement includes plans for the construction of a gas …
The Number of Drilling Rigs in the World Has Continued to Grow for Three Months in a Row
The number of operating oil and gas drilling rigs in the world continues to increase for the third month in a row. This is evidenced by data from the oilfield services company from the USA Baker Hughes. In August, 1,735 drilling rigs were operating in the world, which is 22 …
Baker Hughes Return as Silver Sponsor to KDR 2024
We are thrilled to welcome Baker Hughes as a key sponsor for KDR 2024. As a global leader in energy technology, Baker Hughes brings a wealth of expertise and innovation to our event. Their commitment to advancing the industry is evident in their cutting-edge solutions that drive efficiency and sustainability …
Equinor Lets Contracts for Raia Drilling Offshore Brazil
Norwegian energy company Equinor (35%, operator), on behalf of its partners Repsol Sinopec Brasil (35%) and Petrobras (30%), has won a drilling contract with Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, for the Raia project in Brazil. Drilling at Raia is scheduled …
Baker Hughes Increases Net Profit by 41% in Q2
American oilfield services company Baker Hughes Co. increased its net profit by 41% in the second quarter, with adjusted figures and revenue exceeding market expectations. The company’s net profit in April-June 2024 amounted to $579 million versus $410 million a year earlier. Earnings per share increased to $0.58 from $0.4. …