Baker Hughes Weekly Rig Count - May 22 2020

The Baker Hughes rig Count showed that US active rigs dropped by 6.4% this week. The rate of rig declines continues to decrease as we are reaching a bottom in activity. Once again, the Permian Basin saw the largest reduction in active rigs of all of the major basins, losing 62% of all of the rigs dropped this week (13 out of 21 rigs).

Table 1: Baker Hughes Weekly Rig Count Comparison for May 22, 2020

Figure 1: Baker Hughes Rig Rig Count Chart for May 22, 2020