U.S. Rig Count Rises First Time in 2 Months
A bit of good new to end week: After 8 weeks of declining US oil and gas rig counts, we’ve finally edged upward.
According to weekly data from Baker Hughes, The U.S. added two oil rigs and lost one gas rig for a net increase of one rig.
The last net increase was dates back to Aug. 16. This brings the nation’s total number of active rigs to 856 – a number 200 fewer than the count of 1,063 one year ago.
Texas led all states with increases, adding six rigs. West Virginia added three rigs and Louisiana added one.