$CHK this week we got 11 fewer oil rigs and 4 fewer gas rigs in the US. But according to Baker Hughes, Canada added 118 rigs in one week! How is that possible? Are the numbers fabricated? That aside, there are 40% fewer has rigs this year than last (119 vs 202) and 25% fewer in oil (659 vs 873). How are we producing more? Has gas and oil rigs become 25-50% more efficient? If so, where did the profit go? or will Baker Hughes magically add 100 new US rigs one of these days too?
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