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Baker Hughes says oil, gas activity up, but lower year-on-year
HOUSTON, Aug. 8 () -- Oil services company Baker Hughes said the number of drilling rigs actively exploring for or developing oil or natural gas in the United States increased.The company said the U.S. rig count for July was 1,766, a 5 percent increased from June. The latest update from Baker Hughes comes as the U.S. Energy Department updates oil and gas production levels in its mid-term reports.The Energy Information Administration, the analytical arm of the energy department, said U.S. crude oil production increased to 7.5 million barrels per day in July, the highest output for any month since 1991.Baker Hughes said Wednesday the U.S. rig count for July was down 10 percent, however, when compared to the same time last year.North American oil production has increased steadily, thanks in part to new drilling technologies that give energy companies better access to oil and natural gas locked in shale formations. Baker Hughes said the average rig count in Canada for July was 291, up 108 from June but 16 less than reported year-on-year.Internationally, the oil services company said the rig count for July was 3,362,[url=http://www.christianalouboutin.co.uk]Jimmy Choo Wedding Shoes[/url], down 4.3 percent compared to the same time last year.