Shares of Baker Hughes (BHI -1.6%) dip as the rig count in the U.S. sees another decline - by...
Friday, July 6, 2012, 2:44 PM ETShares of Baker Hughes (BHI -1.6%) dip as the rig count in the U.S. sees another decline - by seven this week - as drilling activity directed toward natural gas continues to fall. Over the past few months, the exploration and production industry in North America has seen a sharp shift as producers cut down on gas production and focus on oil rich plays. The shift is creating challenges for oilfield services firms such as BHI, and is likely to suppress margins for the company over the rest of the year.
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