U.S. Drillers Add Oil and Gas Rigs for Third Week in a Row: Baker Hughes

The U.S. oil and natural gas rig count this week rose for a third week in a row as high prices encourage increased spending at the wellpad, boosting demand for some oilfield services companies.

The oil and gas rig count, an early indicator of future output, rose two to 758 in the week to July 22, its highest since March 2020, energy services firm Baker Hughes Co. said in its closely followed report on July 22.

U.S. oil rigs were steady at 599 this week, while gas rigs rose two to 155.