Oil rigs rose one to 310 this week, their highest since May, while gas rigs were unchanged at 92.
Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10
Oil and gas rigs added for seventh consecutive month but the rate of growth slowed in February even as oil prices rose to their highest since 2019.
The oil and gas rig count rose five to 402 in the week to Feb. 26, its highest since May, energy services firm Baker Hughes Co. said.
The U.S. rig count rose last week to 443 as of Feb. 17, according to Enverus Rig Analytics. The count is up 4% in the last month but still down 46% year-over-year.
U.S. oil rigs fell by one to 305 this week, while gas rigs rose one to 91, their highest since April 2020.
U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, marking the longest streak of additions since June 2017 as oil prices hit their highest in more than a year.