U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since October 2018.
U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers to return to the wellpad.
The increase in oil and gas rigs during the second quarter was led by the Anadarko, Permian and Williston basins.
The most significant week-over-week change to the U.S. rig count occurred in the Anadarko Basin with the addition of nine rigs bringing the basin’s total to 41, according to Enverus.
While operators in the Rockies unconventional plays added to the U.S. rig count this past week, the Eagle Ford Shale lost 10 rigs. Meanwhile, the Permian Basin RRC Dist. 7C lost four rigs and Dist. 8 added five.
U.S. oil rigs rose eight to 373 this week, while gas rigs rose one to 97, according to Baker Hughes.
The Williston Basin hit a 2021 high of 20 active rigs this past week, according to Enverus analysis of the U.S. oil and gas rig count.
The largest increases by basin occurred in the Permian Basin, where eight rigs were added. Meanwhile, the Williston Basin added five rigs and reached a 2021 high of 19.