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Baker Hughes Inc

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  • HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 21 this week to 1,048 amid falling oil prices. Houston- based Baker Hughes said Friday 813 rigs were seeking oil and 233 exploring for natural gas. Among major oil- and gas-producing states, Alaska, Louisiana, Oklahoma and Texas each...

  • March 27- The number of rigs drilling for oil in the United States declined by 12 this week to 813, the smallest decline since December, oil services firm Baker Hughes said in its closely watched survey on Friday. With the decline this week, the number of oil rigs has fallen for a record 16th week in a row to the lowest level since 2011, according to Baker Hughes data...

  • OIL RIG COUNT FALL OF 12 IS SMALLEST DECLINE SINCE DECEMBER- BAKER HUGHES.

  • With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less. Baker Hughes Inc saw more client inquiries about products that increase efficiency of existing wells in the first three months...

  • March 23- The U.S. shale oil industry may have forever abandoned its heavy-spending ways in the face of sliding crude prices, Schlumberger Ltd, the world's No.1 oilfield services provider, said on Monday. Spending cuts already announced by producers- to the tune of 25 to 60 percent- have dropped the rig count by 45 percent since late 2014, and output will soon...

  • US drillers scrambling to thwart OPEC threat Monday, 23 Mar 2015 | 11:58 AM ET

    NEW YORK— OPEC and lower global oil prices delivered a one-two punch to the drillers in North Dakota and Texas who brought the U.S. one of the biggest booms in the history of the global oil industry. "Everybody gets a little more imaginative, because they need to," says Hans-Christian Freitag, vice president of technology for the drilling services company Baker...

  • LONDON, March 23- Hedge funds have turned super-bearish about U.S. oil prices as concerns about running out of storage trump the drop in the number of rigs drilling new wells. Money managers had amassed a record number of short positions in futures and options contracts linked to WTI by the end of March 17, equivalent to 209 million barrels of oil, according to the...

  • *Dollar down on U.S. interest hike uncertainty, Greece. *Baker Hughes reports another drop in U.S. oil rig count. NEW YORK, March 20- Oil prices jumped on Friday with U.S. crude up 4 percent after the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.

  • HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. tumbled by 56 this week to 1,069 amid slumping oil prices. Houston- based Baker Hughes said Friday 825 rigs were seeking oil and 242 exploring for natural gas. Among major oil- and gas-producing states, Texas lost 36 rigs and Louisiana 18. New...

  • March 20- The number of rigs drilling for oil in the United States continued to decline this week, falling 41 to 825, the lowest rig count in four years, oil services firm Baker Hughes said in its closely-watched survey on Friday. U.S. crude futures have dropped by about 60 percent since June due to concerns OPEC and the United States are producing too much oil while...

  • *Dollar down 1 pct vs euro after Merkel comments on Greece. Oil could gain further in the afternoon if U.S. oil rig count data from private firm Baker Hughes at 1 p.m. EDT shows another sharp decline, which may point to lower production in the future. "The Baker Hughes numbers could certainly be pivotal to afternoon trade, but for now, all eyes are on the dollar and the euro,...

  • DUBAI/ KHOBAR, Saudi Arabia, March 20- As the global energy industry stares transfixed at a spectacular drop in U.S. rigs, Saudi Arabia is ramping up the number of machines drilling for oil and gas despite a sharp fall in the price of crude. Industry sources and analysts say the OPEC kingpin is looking beyond the halving of global oil prices since June 2014 to a time...

  • Boone Pickens: Why I see $70 oil by year's end Thursday, 19 Mar 2015 | 9:45 AM ET
    T. Boone Pickens

    Energy entrepreneur Boone Pickens tells CNBC U.S. producers are in the process of rebalancing the market.

  • Drilling for Deals   Thursday, 19 Mar 2015 | 8:12 AM ET
    Drilling for Deals

    With energy stocks down more than 20% since oil's slide began last summer, Brennan runs through the potential buying opportunities in the sector, based on data and what experts like.

  • HOUSTON/ WILLISTON, N.D., March 18- With the prospect of another plunge in crude prices looming after two months of stability, U.S. shale oil producers may face another round of spending cuts to conserve cash and survive the downturn. "If I were an oil company today, I would talk about one thing: how far can you cut costs," said Fadel Gheit, an oil analyst at Oppenheimer in New...

  • *Iran sanctions may end by June. NEW YORK, March 13- Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency that the oil glut is growing. Benchmark Brent oil settled near a one-month low below $55 a barrel and U.S. crude settled near a 2-1/ 2 month low under $45.

  • *Iran sanctions may end by June, bringing more crude to market. Also weighing on the market was the prospect of Iran reaching a partial nuclear deal with world powers by end March and a full agreement by June. Data from oil services firm Baker Hughes showing a four-year low in the number of rigs drilling for oil in the United States also failed to stir buying.

  • Power Play: Time to get back into energy stocks Monday, 9 Mar 2015 | 1:18 PM ET
    oil crude gas

    Bullish case for energy stocks

  • *U.S. rig count data at lowest since April 2011. NEW YORK, March 6- Crude oil prices closed down on Friday, with benchmark Brent losing its most in a week since January, as a resurgent dollar and fear of a U.S. rate hike diverted attention from the shrinking number of rigs drilling for oil in the United States. Benchmark Brent oil settled down 75 cents, or 1.2 percent, at...

  • The number of rigs drilling for oil in the United States fell by 64 to 922, oil services company Baker Hughes Inc said in its weekly report. The number of oil rigs in use has fallen in 18 of the past 21 weeks, according to Baker Hughes. Texas, the state with the most rigs, again lost the most this week, shedding 32 to 537, the lowest since 2010, Baker Hughes said.