Market Overview

Baker Hughes Announces March 2012 Rig Counts

Baker Hughes Announces March 2012 Rig Counts

PR Newswire

HOUSTON, April 9, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for March 2012 was 1,192, down 12 from the 1,204 counted in February 2012, and up 45 from the 1,147 counted in March 2011. The international offshore rig count for March 2012 was 303, down 17 from the 320 counted in February 2012 and up 8 from the 295 counted in March 2011. 

The average U.S. rig count for March 2012 was 1,979, down 11 from the 1,990 counted in February 2012 and up 259 from the 1,720 counted in March 2011.  The average Canadian rig count for March 2012 was 492, down 214 from the 706 counted in February 2012 and down 75 from the 567 counted in March 2011.

The worldwide rig count for March 2012 was 3,663, down 237 from the 3,900 counted in February 2012 and up 229 from the 3,434 counted in March 2011.      

March 2012 Rotary Rig Counts






















March 2012


Month


February 2012


March 2011





Land

OS

Total


Variance


Land

OS

Total


Land

OS

Total




















Europe


67

42

109


-11


72

48

120


70

48

118



Middle East

266

46

312


1


261

50

311


247

41

288



Africa


54

35

89


8


48

33

81


44

21

65



Latin America

351

87

438


-1


349

90

439


335

80

415



Asia Pacific

151

93

244


-9


154

99

253


156

105

261


International

889

303

1,192


-12


884

320

1,204


852

295

1,147




















United States

1,936

43

1,979


-11


1,948

42

1,990


1,694

26

1,720



Canada


492

0

492


-214


706

0

706


565

2

567


North America

2,428

43

2,471


-225


2,654

42

2,696


2,259

28

2,287



















Worldwide

3,317

346

3,663


-237


3,538

362

3,900


3,111

323

3,434




















































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.  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.  Additional detailed information on the Baker Hughes rig counts is available from our website.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 57,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.

CONTACTS:

 


Media Relations:           

Teresa Wong, +1.713.439.8110, teresa.wong@bakerhughes.com


Pam Easton, +1.713.439.8391, pamela.easton@bakerhughes.com

Investor Relations: 

Adam Anderson, +1.713.439.8039, adam.anderson@bakerhughes.com

SOURCE Baker Hughes

 

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