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OIL AND GAS
Baker Hughes shows U.S. rig count up 5 percent from 2013
by Daniel J. Graeber
Houston (UPI) Sep 8, 2014


disclaimer: image is for illustration purposes only

The number of rigs actively exploring for or developing oil and natural gas in the United States is up more than 5 percent from 2013, Baker Hughes said Monday.

Oil services company Baker Hughes Inc. published rig count data for August. For the United Sates, the rig count was 1,904, up 28 from the previous month and 123 from August 2013.

In a weekly report on the energy market last month, the U.S. Energy Information Administration said U.S. crude oil production for the week ending Aug. 29 was 8.6 million barrels per day, up 13.2 percent, or about 1 million bpd, from same week in 2013.

EIA estimates productivity and changes in production from existing wells and finds U.S. oil production per rig increased by eight barrels per day across seven key shale basins from August to September. Gas increased by 8,000 cubic feet per day over the same period.

Hydraulic fracturing and horizontal drilling are in part behind the rise in oil and gas production in North America. For Canada, Baker Hughes said the rig count for August was 399, up 49 from the previous month and 31 more than August 2013.

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