Thread regarding Baker Hughes layoffs

Rigs Fall Below 400 For The First Time Since 1940

Rigs Fall Below 400 For The First Time Since 1940

By Julianne Geiger - May 08, 2020, 12:25 PM CDT

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 34, falling to 374, with the total oil and gas rigs sitting at 614 fewer than this time last year as U.S. drillers scurry to keep their heads above water amid strict stay-at-home orders that caused oil demand to plummet at alarming rates—and oil prices along with it.

It is the fewest number of active rigs since Baker Hughes started to keep in 1940.

A lot of firsts for this downturn and all a catastrophic for the industry.

by Anonymous
| 1027 views | | 4 replies (last May 9, 2020) | Reply
Post ID: @OP+14RLn3e3
Comment! It's anonymous!

4 replies (most recent on top)

If decom is so amazing why are all the companies including Baker paying off decom staff???

by Anonymous
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Post ID: @1mqt+14RLn3e3

Stick with Decom because we don’t need any drilling rigs and it’s keeping the company afloat right now

Decom is having a payback time

by Anonymous
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Post ID: @1seg+14RLn3e3

Lots more to go the amount of work available means most companies will be cutting 30% plus over the next year possibly far more.
Most companies have cancelled most work for next 24 months.

by Anonymous
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Post ID: @1yiw+14RLn3e3

Halliburton just laid off 1000 in Houston. Are we expecting anything else at Baker..?

by Anonymous
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Post ID: @ddw+14RLn3e3

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