What is meant by BHR?

Baker Hughes Inc. (NYSE: BHI) has just released its key weekly rig count data. The report shows that the United States is -30 from last week down to 1864 rigs, while Canadas rig count gre by 29 rigs to 345. On a net basis it sounds like a wash, but the devil is in the details On the U.S. front, oil rigs were down 10 to 1409, and gas rigs were down 21 to 452 rigs. More importantly, the U.S. Rig Count is down 94 rigs from last year at 1958 rigs: oil rigs are up 352 and gas rigs are down 440. The U.S. Offshore rig count is 51 and that is unchanged from last week but up 19 year over year. Its Canadian rig count is up 29 rigs at 345 from last week, with oil rigs up 19 at 256 and gas rigs up 10 at 89. The same Canadian rig count is down 170 rigs from last year at 515, with oil rigs down 100 and gas rigs down 70. In short, you can see that the trend is still more favorable to oil than it is to gas. This should not be a surprise on most fronts. Baker Hughes shares are up 3.4% today at $46.86 but this remains a move with the sector rather than due to any key rig count changes. The Market Vectors Oil Services ETF (NYSEMKT: OIH) is up 2.4% at $41.42. Gas-to-Liquid using Process Intensification BHR Group with support from the OGID of the DTI has carried out a feasibility study to assess the technical and commercial viability of novel Process Intensification (PI) concepts for Gas-to-Liquid (GTL) conversion for the production of hydrocarbons. In particular to carry out the significant process steps for:

Steam Reforming (SR) which produces syngas Fischer-Tropsch (FT) synthesis of syngas into hydrocarbon and oxygenated species.

Project Goals The work reviewed the three main steps involved in GTL conversion namely: Syngas Production, Syngas Conversion and Product Upgrade covering both conventional GTL processes and novel processes (including PI). The technical and economic viability of the reactor concept has also been evaluated based on an assessment of The key technical variables that determine GTL productivity. This included determining catalyst conversion and selectivity, in particular for surface coated catalysts which would be used in a HEX reactor over a typical range of operating conditions. Applications The application of PI techniques for these key process steps could result in a significant difference between a conventional GTL and PI-based GTL Plant as the PI solution removes the need for oxygen storage in the Syngas Production stage and conventional process equipment in the production, conversion and possibly upgrade stages. This would eliminate major large scale equipment and storage facilities which are at a premium in offshore installations.