Rig Report

Baker Hughes CEO:Moved Equipment Off Rigs Because Of Gulf Spill.

This does not make clear why they pulled equipment off the rigs, it is safety issues with the oil in the water or is the equipment needed at the blow out? If safety concerns with all the oil in the water is shutting down production in the GOM, then that will be showing up in crude prices soon.

HOUSTON -(Dow Jones)- Baker Hughes Inc. (BHI) Chief Executive Chad Deaton said the company has moved equipment off of three or four rigs in the U.S. Gulf of Mexico as a result of the massive oil spill there.

“We have had to move our equipment off rigs,” Deaton said, noting that some of its clients have evacuated some personnel from those drilling rigs in the U.S. Gulf.