The oil and gas rig count, an early indicator of future output, rose 3 to 351 in the week to Dec. 30, energy services firm Baker Hughes Co. said in its closely followed report.
The U.S. rig count fell slightly during the past week with the biggest loss in the Permian and Appalachian basins. Increases did occur in the Anadarko Basin, which added five rigs, and the Williston Basin, which added two.
According to Enverus Rig Analytics, the rig count is up 8% in the last month but down 52% year-over-year. The Permian added four rigs, while the Anadarko, D-J and Gulf Coast basins were each down one or two rigs week-over-week. The Appalachia Basin also added a rig.
The oil and gas rig count, an early indicator of future output, rose 8 to 346 in the week to Dec. 18, the highest since May, energy services firm Baker Hughes said in its closely followed report.
Another week of steady increases was reported for the past week’s U.S. rig count. According to Enverus Rig Analytics, the count is up 9% in the last month, but down 51% year-over-year, with no significant changes in major basins on the week.
Oil and gas drillers began to return to the wellpad in August, after the number of operating rigs hit a record low of 244, according to Baker Hughes data going back to 1940.
Activity is up 14% in the last month, but down 51% year-over-year. According to Enverus, the positive gas outlook is likely drawing drillers back to gassier plays, such as Appalachia.
The number of rigs operating in the U.S. rose for the 10th straight week after hitting a record low in August.