The number of rigs working onshore in the Lower 48 U.S. states dipped slightly last week, the fourth week in the last five where the working-rig total has fallen, data from Baker Hughes, a GE company, reveals.
U.S. line pipe prices sunk in May, Kallanish Energy’s sister publication, Kallanish, learns from analyst Pipe Logix.
Average U.S. line pipe prices fell by 1.5% from April to May, reaching a combined $1,757/short ton at the distribution level.
The number of rigs working onshore in the Lower 48 U.S. states last week fell by two, and brought to five the number of consecutive weeks the count has slipped, data from Baker Hughes, a GE company, reveals.
Oilfield services firm Baker Hughes, a GE company, delivered what chairman and CEO Lorenzo Simonelli called a “solid” first quarter, due to stabilizing global oil and natural gas markets, Kallanish Energy reports.