Baker Hughes reports U.S. rig count up 5 to 626 rigs

Baker Hughes reports that the U.S. rig count is up 5 from last week to 626 with oil rigs up 6 to 503, gas rigs down 1 to 120 and miscellaneous rigs unchanged at 3. The U.S. Rig Count is down 127 rigs from last year’s count of 753 with oil rigs down 97, gas rigs down 31 and miscellaneous up 1 to 2. The U.S. Offshore Rig Count is up 1 to 20, up 3 year-over-year. The Canada Rig Count is down 3 from last week to 231, with oil rigs down 3 to 141, and gas rigs unchanged at 90. The Canada Rig Count is down 13 from last year’s count of 244, with oil rigs down 17, and gas rigs up 4.