Baker Hughes suspends well count

Baker Hughes Inc. (NYSE: BHI) has suspended the quarterly publication of the US onshore well count. In response to the recent market downturn and internal initiatives to reduce costs, the company has prioritized its resources to support the ongoing publication of the weekly North America and monthly international rig counts, which continue to provide a timely and relevant snapshot of evolving market conditions.

The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the US, Canada, and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Co. began weekly counts of US and Canadian drilling activity. Baker Hughes initiated the monthly international rig count in 1975.

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