Baker Hughes: May Worldwide Rig Count Declines - Quick Facts

(RTTNews) - Oilfield services provider Baker Hughes Inc. (BHI) announced Tuesday that the worldwide rig count for the month of May was 1,405, down 722 from the 2,127 counted in May 2015 and down 19 from the 1,424 counted in April 2016.

The average U.S. rig count for May was 408, down 481 from last year and down 29 from the month of April. The average Canadian rig count for May 2016 was 42, down 38 from last year, but 1 sequentially.

The international rig count was 955, down 722 from the prior year, but up 9 sequentially. The international offshore rig count was 229, down 55 from last year, while up 9 from the previous month of April.

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 U.S., Canada and international markets.