U.S. energy companies cut four oil rigs in the week ending Dec 14, bringing the total count to 873, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.
The natural gas rig count remained unchanged at 198 rigs for the week, compared to 183 rigs a year earlier.
The U.S. rig count, an early indicator of future output, is higher than a year ago when 747 rigs were active as energy companies have spent more to capture higher prices.
|
US oil & gas rigs |
|||||
|
Rigs |
A year ago |
Previous week |
Week ending Dec. 14 |
Week-on-week change |
YoY |
|
Oil |
747 |
877 |
873 |
(4) |
126+ |
|
Gas |
183 |
198 |
198 |
0 |
15+ |
|
Oil & Gas |
930 |
1075 |
1071 |
(4) |
141+ |
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