Baker Hughes reports U.S. rig count up 7 to 589 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 7 from last week to 589 with oil rigs up 5 to 482, gas rigs up 2 to 102 and miscellaneous rigs unchanged at 5. The U.S. Rig Count is down 37 rigs from last year’s count of 626 with oil rigs down 21, gas rigs down 17 and miscellaneous up 1. The U.S. Offshore Rig Count is up 2 to 15, down 6 year-over-year. Canada Rig Count is down 11 from last week to 194, with oil rigs down 10 to 124, gas rigs unchanged at 70 and miscellaneous rigs down 1 to 0. Canada Rig Count is unchanged from last year’s count of 194 with oil rigs up 4, gas rigs down 4 and miscellaneous rigs unchanged.