Baker Hughes Falls To New 52-Week Low Following Release Of December 2015 Rig Counts

Shares of Baker Hughes Incorporated (NYSE: BHI) hit a new 52-week low of $41.53 on Friday after the company released its December 2015 rig counts.

Baker Hughes said that its international rig count for December, 2015 totaled 1,095. This marked a decrease of 14 rigs from November and a decrease of 218 from December 2014.

Baker Hughes added that its international offshore rig count for December, 2015 was 714, marking a decrease of 46 from the previous month and a decrease of 1,168 from December 2014.

Baker Hughes also noted that its worldwide rig count for December, 2015 was 1,969 - down 78 from the previous month and down 1,601 from December 2014.