Baker Hughes (BHI -0.4%) CFO Peter Ragauss says the U.S. oil-directed rig count would need to...

|About: Baker Hughes Inc. (BHI)|By:, SA News Editor

Baker Hughes (BHI -0.4%) CFO Peter Ragauss says the U.S. oil-directed rig count would need to double to more than 2,500 rigs if analyst estimates of a 2M bbl/day increase in U.S. oil production by 2017 are correct. A rapid shift to oil production would ultimately favor BHI because of its technology, Ragauss says.