U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, Baker Hughes Co. said, marking the longest streak of additions since June 2017 as crude prices hit their highest in more than a year.

However, according to Enervus Rig Analytics, the U.S. rig count fell by 12 in the last week to 435 as of Feb. 10. The count is up 5% in the last month but still down 47% year-over-year. The change between Feb. 7 and Feb. 10 is likely explained by rig downtime between wells, Enverus said. The count hasn’t been as high as 452 since April 2020.

U.S. oil rigs rose by seven this week, their biggest weekly increase in almost a month, while gas rigs fell two to 90. The rig count in shale plays has increased almost every week with the rise in oil prices.

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Onshore