The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
Despite this week's rig increase, Baker Hughes said the total count was still down 138 rigs, or 18%, below this time last year.
New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
Baker Hughes said U.S. oil rigs held steady at 499 this week, while gas rigs fell by two to 117.
Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
The oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks
The oil and gas rig count, an early indicator of future output, fell by two to 619 in the week to Jan. 12, the lowest since November.
Though industry experts are predicting 2024 to be a slow year for rigs in the Gulf of Mexico, there is plenty of opportunity for contracts to be awarded in other markets.
The oil and gas rig count, an early indicator of future output, fell by one to 621 in the week to Jan. 5.