The number of rigs actively exploring for or producing oil and natural gas in North America increased by nearly 4 percent, Baker Hughes said Tuesday. Baker Hughes published its rig count report for August , finding a net increase in the upstream sector in North America. Energy companies in the first half of 2015 unveiled cost-savings strategies as crude oil traded at a 50 percent discount from June 2014. Low crude oil prices means less capital for exploration and production, a trend data from Baker Hughes suggests may be reversing. “The average U.S. rig count for August 2015 was 883, up 17 from the 866 counted in July 2015, and down 1,021 from the 1,904 counted in August 2014,” it said. “The […]