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Baker Hughes: U.S. Rig Count Unchanged at 603
Baker Hughes reports that the U.S. rig count is unchanged from last week at 603 with oil rigs down 3 to 459, gas rigs up 1 to 133 and miscellaneous rigs up 2 to 11. The U.S. Rig Count is up 55 rigs from last year's count of 548 with oil rigs up 41, gas rigs up 12 and miscellaneous rigs up 2. The U.S. Offshore Rig Count up 1 to 13, down 4 year-over-year. The Canada Rig Count is down 5 from last week to 217 with oil rigs unchanged at 150, gas rigs down 5 to 65 and miscellaneous rigs unchanged at 2. The Canada Rig Count is up 19 from last year's count of 198 with oil rigs up 14, gas rigs up 4 and miscellaneous rigs up 1.
Baker Hughes Signs New Power Framework Agreement with Venture Global
Baker Hughes (BKR) announced a new Power Frame Agreement with Venture Global (VG) and GE Vernova (GEV) to support the development of behind-the-meter power generation in the United States. "The framework is designed to support Venture Global's continued LNG production and liquefaction, as well as potential future LNG-adjacent data center development projects. The agreement establishes the framework for the supply of gas turbines, steam turbines and associated equipment and services for up to 16 new power island units. In addition, Baker Hughes will provide the controls and electrical integration technology required to operate each island, including the E-house and electrical control systems. The framework builds on the LNG power island architecture previously deployed by Baker Hughes for Venture Global facilities, providing a repeatable model for behind-the-meter power generation designed to serve LNG production and related industrial operations at scale, with potential support of adjacent applications. Deliveries contemplated under the agreement are scheduled from 2028 through 2034," Baker Hughes stated. Venture Global currently expects to place the first power island purchase order by the end of 2026, with additional orders anticipated beginning in 2027, the company added.
Baker Hughes Reports U.S. Rig Count Increases to 603
Baker Hughes reports that the U.S. Rig Count is up 5 from last week to 603 with oil rigs up 6 to 462, gas rigs down 1 to 132 and miscellaneous rigs unchanged at 9. The U.S. Rig Count is up 56 rigs from last year's count of 547 with oil rigs up 44, gas rigs up 12 and miscellaneous rigs unchanged. The U.S. Offshore Rig Count up 2 to 12, down 3 year-over-year. The Canada Rig Count is up 6 from last week to 222 with oil rigs up 1 to 150, gas rigs up 4 to 70 and miscellaneous rigs up 1 to 2. The Canada Rig Count is up 29 from last year's count of 193 with oil rigs up 21, gas rigs up 7 and miscellaneous rigs up 1.
Baker Hughes Signs Strategic Agreements with Venezuela
Baker Hughes announced the signing of two strategic agreements to accelerate the revitalization of Venezuela's energy infrastructure across the natural gas value chain and expansion of the country's energy production. In Caracas, the company signed a strategic alliance agreement with PDVSA, Lindsayca and Fulcrum LNG, Inc. to revitalize and expand the country's natural gas infrastructure. Baker Hughes also recently signed a separate memorandum of understanding, or MOU, with New Stratus Energy to support the development of future oil and gas prospects. Together, these agreements establish an enterprise deal framework that can connect upstream resource development, midstream infrastructure, gas monetization, and LNG commercialization. Under the alliance with PDVSA, Lindsayca and Fulcrum, the companies will combine Baker Hughes' broad portfolio of industrialized energy solutions for oil and gas field development, gas infrastructure and LNG solutions, Lindsayca's engineering, procurement, construction, and operational capabilities, and Fulcrum's midstream and LNG project development, financing and market access. The collaboration will focus on developing project specific agreements, advancing critical infrastructure required to process, transport, commercialize, and export natural gas, for the first time in the history of Venezuela. The alliance is a cooperation framework. Any specific project will be subject to separate definitive agreements, each party's internal approvals, and applicable U.S. sanctions and export control requirements, including authorizations issued by the U.S. Department of the Treasury's Office of Foreign Assets Control. Through the MOU with New Stratus Energy, Baker Hughes will support the development of future oil and gas prospects. The partnership will leverage Baker Hughes' integrated portfolio of subsurface, drilling, production, processing, digital, emissions abatement, power generation, oil and gas monetization, and liquefied natural gas technologies to maximize resource recovery opportunities and accelerate future project developments. Baker Hughes has supported Venezuela's energy sector for more than 60 years. Its installed base in country includes more than 1,200 oil production systems, the largest artificial lift footprint, significant flexible pipe infrastructure, and approximately 240 turbomachinery units across 23 sites.
Baker Hughes Reports U.S. Rig Count Down to 598
Baker Hughes reports that the U.S. rig count is down 1 from last week to 598 with oil rigs up 1 to 456, gas rigs down 2 to 133 and miscellaneous rigs unchanged at 9. The U.S. Rig Count is up 49 rigs from last year's count of 549 with oil rigs up 34, gas rigs up 15 and miscellaneous rigs unchanged. The U.S. Offshore Rig Count up 2 to 10, down 5 year-over-year. The Canada Rig Count is up 8 from last week to 216 with oil rigs up 4 to 149, gas rigs up 4 to 66 and miscellaneous rigs unchanged at 1. The Canada Rig Count is up 26 from last year's count of 190 with oil rigs up 20, gas rigs up 6 and miscellaneous rigs unchanged.
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