Financial Wire

Update: US Rig Count Drops by 2, Baker Hughes Says

-- (Updates to include additional details.)

The combined count of crude oil, natural gas, and miscellaneous rigs in the US dropped by two to 543 in the week ending April 17, according to data from Baker Hughes (BKR) released Friday.

The US oil rig count dropped by one from 411 the previous week to 410, while the number of gas rigs decreased by two from 127 the previous week to 125.

The number of miscellaneous rigs in the US rose by one to eight from seven the previous week, the data revealed.

The US had 473 oil, 106 gas, and six miscellaneous rigs in operation a year earlier. The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by seven to 673 from 680 the previous week.

Price: $60.09, Change: $-0.51, Percent Change: -0.84%

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Update: US Rig Count Drops by 2, Baker Hughes Says | Financial Wire