The number of active drilling rigs in the United States rose by 3 units last week to 579, per data from Baker Hughes. The number is also up by about 233 units versus this time last year.
The stronger oilfield activity should bode well for Halliburton (NYSE:HAL) which is one of the largest oilfield services players in the U.S. Halliburton stock is up about 15% year-to-date.
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|S&P 500 Return||-3%||21%||104%|
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