Thread regarding Baker Hughes layoffs

The Rig Count Collapse Is Far From Over By Julianne Geiger - Nov 08, 2019, 12:21 PM CST pay offs coming before Christmas

The Rig Count Collapse Is Far From Over
By Julianne Geiger - Nov 08, 2019, 12:21 PM CST
The US oil and gas rig count fell again this week, according to Baker Hughes, continuing the downward trend with a drop of 5 rigs for the week, according to Baker Hughes. This week marks eleven decreases out of the last twelve weeks.

But the decline is unlikely to have a lasting or even immediate effect on prices.

The total oil and gas rig count now stands at 817, or 264 down from this time last year.

The total number of active oil rigs in the United States decreased by 7 according to the report, reaching 684. The number of active gas rigs held fast at 130. Miscellaneous rigs this week rose by 2.

Oil rigs have seen a loss of 202 rigs year on year, with gas rigs down 65 since this time last year.

By state, Texas has seen a drop of 119 year on year, while Oklahoma sunk by 97 to hit 57 rigs.

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Post ID: @11VM7SVJ

2 replies (most recent on top)

It's been going down for 5 years you fool.
Use to be 2700 + rigs working 6 years ago now less than 900.
The industry is done, local papers making out the down turn is past but pay offs happening weekly , oil companies still going bankrupt.
It's not about taking a holiday when you house in Aberdeen is 80k in the minis, your on 60% of the pay you made 6 years ago or unemployed and your car in the drive is leased at 600.00 amonth...

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Post ID: @11VM7SVJ-1xlt

It goes up it goes down so what. Take a vacation go do something else til it picks back up.

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