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The Baker Hughes US oil rig count – a proxy for health and optimism in the overall upstream sector – has just reached a 31-month high to 1067 rigs, though nowhere near the all-time high of 1609 back in July 2014. This recent development is not surprising; crude prices have been trending upwards and reached a new 24-month peak last week as well.
Looking at the breakout data, it is possible that some of the gains could be from re-started sites shut down in the wake of Hurricane Michael bypas
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NrgEdge is the professional network for jobs, learning and networking for the Oil & Gas and Energy industry. We welcome anyone from new graduates to experienced professionals, to grow their career and skills, NrgEdge strives to help members excel at every point in their career journey.
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