US Rig Count Increases for First Time in Two 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.

Pennsylvania lost four rigs while Alaska, New Mexico, Ohio and Oklahoma all dropped one rig apiece.

Sponsored Links

Among the major basins, the Permian led with six more rigs. This brings the Permian’s total number of active rigs to 421, just shy of the nation’s total.

The Haynesville tacked on two rigs. The Cana Woodford shed three rigs while the Marcellus and Utica dropped one rig apiece.

News