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01Jul2015

Rig Count Ends It’s 28 Week Slide

According to Houston based oilfield service giant, Baker Hughes, the North American rig count for the week of June 26th saw it first increase since rigs started shutting down last October.  The rig count increased to 859 rigs, up 2 from the previous weeks’ count of 857.  Most of the increase in activity came from Louisiana which saw a net increase of 6 rigs for the week, followed by increase in rig counts in New Mexico and West Virginia (1 each).  These increases were offset by continued losses in other regions.

The weekly increase does not indicate that the rig count has reached bottom after 28 consecutive weeks of declines but it is an encouraging sign.  As we reported last week, we may not see a trend reversal until later this summer.

Tim Cook is the President and Founder of PathFinder Staffing, an oil and gas recruiting agency located in Houston, Texas. He has been a oil and gas recruiter since 1995.  To talk to one of our oil and gas recruiters about your job search or your hiring needs, visit our web site at www.PathFinderStaffing.com or call us at (281) 858-7325.

 

 

 

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  • 1 Jul, 2015
  • Tim Cook
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