S&P 500
7,552.20
+0.03%
Dow Jones
52,539.70
+0.05%
Nasdaq 100
29,768.10
+0.06%
Russell 2000
2,991.36
+0.02%
FTSE 100
10,480.00
-0.33%
Nikkei 225
68,977.20
-0.08%

Energy

Mixed Bag on Rig Counts (BHI, OIH, USO)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
We are seeing a mixed bag on the rig counts in the oil patch.  While the numbers are often higher than a year ago, they are on the decline from week ago data that may have some seasonality issues as the reason.  Baker Hughes Inc. (NYSE: BHI) has issued its weekly rig counting data, and the gains are interesting when you consider the recent price action of oil being off so much from recent highs.  We are watching the Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) as the two key ETFs on the news.

U.S. Rig Count is -8 from last week at 1677; up 564 year over year.

Canadian Rig Count is down 11 from last week at 418; up 125 year over year.

The US Offshore rig count is 20, down 3 from last week; down 16 year over year.

Baker Hughes Inc. (NYSE: BHI) is u 0.3% at $50.07 late in the day.

The Oil Services HOLDRs (NYSE: OIH) is up 0.25% at $130.09 and the United States Oil (NYSE: USO) is following oil down 0.9% at $35.19.  Oddly, oil is down 0.45% at $82.05 per barrel.

JON C. OGG

Contact [email protected] for any questions or corrections.

*$149 for two years (or $1.43 per week) is an introductory promotion for new members only. 62% discount based on the current list price of Stock Advisor of $199/year. Membership will renew at the then-current list price at the end of the membership term.

Stock Advisor returns are 930% as compared to the S&P 500 returns of 185% as of April 7, 2026.

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Jon C. Ogg |

Mixed Picture in Oil Rig Counts (BHI, OIH, USO)

With all of the trouble in drilling in the Gulf of Mexico, we wanted to look at the most recent…

Douglas A. McIntyre |

Oil Rig Counts Still On The Rise (BHI, OIH, USO)

The rig counts are still mostly heading in the right direction, at least they are if you want to see…

Jon C. Ogg |

Oil Rig Counts Confirming Trends (BHI, OIH, USO)

Baker Hughes Incorporated (NYSE: BHI) has just released its weekly rig count, and the rig count is back up.  In…

Jon C. Ogg |

An Oil Rig Count Disappointment (BHI, OIH, USO, RIG)

The rig counts are not higher this week despite $80+ oil remaining.  Baker Hughes Inc. (NYSE: BHI) has issued its…

Douglas A. McIntyre |

Oil Rig Counts Staying Stronger (BHI, OIH, USO, OIL)

Baker Hughes, Inc. (NYSE: BHI) issued its weekly rig counts and the counts are still going in the right direction…

Douglas A. McIntyre |

Rig Count Growth Mostly Positive (BHI, OIH, DIG, USO, OIL)

Baker Hughes, Inc. (NYSE: BHI) has released its data on the weekly rig counts and most are up. We are…

Douglas A. McIntyre |

Oil Patch: Rig Counts Rise Despite Falling Oil (BHI, OIH, USO)

The rig counts are still heading in the right direction for stable oil and a steady flow of oil and…

Douglas A. McIntyre |

Rig Counts Mixed On Oil Prices (OIH, USO, OIL)

The weekly rig count data from Baker Hughes Incorporated (NYSE: BHI) is out, and it seems that the corrective phase…

Douglas A. McIntyre |

More Rigs Chasing Higher Oil (BHI, OIH, USO, OIL)

Rig Counts Chasing Oil Prices (OIH, USO, OIL) The weekly rig count data from Baker Hughes Inc. (NYSE: BHI) is…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 26,417,358
Norwegian Cruise Line
NCLH • Vol: 17,598,909
Lam Research
LRCX • Vol: 12,113,334
Invesco
IVZ • Vol: 4,557,367
AMD
AMD • Vol: 26,882,043

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
APA
APA • Vol: 4,398,955
New Pluto Global
PSKY • Vol: 18,871,500
Costco
COST • Vol: 4,543,200
Cincinnati Financial
CINF • Vol: 2,196,176