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Rig Count: International Rigs Take Hit; U.S., Canada Posts Losses
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According to Baker Hughes' May 8, 2015 rig count report, rig counts are continuing their downward trend. Most notably, rig decline on the international front has increased in comparison to prior weeks.
The U.S. rig count fell by 11 this week which brings the total year-over-year (YOY) rig count drop to 961.
Canada reported a loss of four rigs this week. The country's rig count has fallen by 70 rigs YOY.
On the International front, rig counts decreased by 49. (-147 YOY).
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