US rig counts up second week in a row

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Getty Images

According to the latest rig count overview released today at 12 pm by Baker Hughes (NYSE: BHI), the US had an increase for a second straight week.

The count rose by five to 645, making the last two weeks the first increases after twenty-nine weeks of declines.

Related: Oil ends up after US rig count data

The highest gains were in the Texas Permian Basin region, adding seven rigs. Currently, there are 949 fewer rigs operating since the count peak at 1,609 last October.

Gas and other rigs decreased by four totaling a net rig gain of one for the week at 863.

Baker Hughes issues the rotary rig counts weekly as a service to the petroleum industry. The rig counts serve as an important business barometer for the drilling industry and its suppliers. Baker Hughes has provided this service since 1944.

Source: Baker Hughes

Source: Baker Hughes


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