In its monthly release, oilfield services provider,
Baker Hughes Inc.
) worldwide Rotary Rig Count for Sep 2013 was 3,431, up 15 from
3,416 in Aug 2013.
BAKER-HUGHES (BHI): Free Stock Analysis
PATTERSON-UTI (PTEN): Free Stock Analysis
TESCO CORP (TESO): Free Stock Analysis Report
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The Baker Hughes Rotary Rig Counts give the number of drilling
rigs actively exploring for or developing oil or natural gas in
the U.S., Canada and international markets. The Baker Hughes'
rotary rig counts, issued since 1944, acts as an important
yardstick for drilling contractors like
Patterson-UTI Energy Inc.
Pioneer Energy Services Corp.
) in gauging the overall business environment of the oil and gas
industry. Baker Hughes initiated the monthly international rig
count in 1975.
Analysis of Monthly Data
International: Internationally, rigs engaged in exploration and
production totaled 1,284 in Sep 2013. This was up 17 from 1,267
counted in Aug 2013, and up 30 from 1,254 counted in Sep 2012.
The international offshore rig count for Sept 2013 was 313, up 4
from the 309 counted in Aug 2013, and up 20 from the 293 counted
in Sept 2012.
North America: North American rigs engaged in exploration and
production totaled 2,147 in Sep 2013. This was down 2 from 2,149
counted in Aug 2013, and down 67 from 2,214 counted in Sep 2012.
Rigs engaged in land operations fell by 7 to 2,077 from 2,084 in
Aug 2013 and decreased by 85 from 2,162 in Sep 2012. The North
American offshore rig count for Sep 2013 was 70, up by 5 from 65
counted in Aug 2013 and up 18 from 52 counted in Sep 2012.
The average U.S. rig count for Sept 2013 was 1,760, down 21 from
1,781 counted in Aug 2013, and down 99 from 1,859 counted in Sep
2012. The average Canadian rig count for Sep 2013 was 387, up 19
from 368 counted in Aug 2013, and up 32 from 355 counted in Sep
As of now, Pioneer Energy Services and Tesco hold Zacks Rank #1
(Strong Buy) and Zacks Rank #2 (Buy), respectively, implying that
these are expected to perform above the broader U.S. equity
market over the next one to three months. On the other hand, both
Baker Hughes and Patterson-UTI Energy currently hold a Zacks Rank
#3 (Hold) stocks, implying that these are expected to perform in
line with the broader U.S. equity market over the same time