U.S. drillers add oil and gas rigs for third week in four -Baker Hughes
U.S. energy firms added oil and natural gas rigs for a third time in four weeks as oil prices rose to their highest since 2018, prompting some drillers to return to the wellpad.
The oil and gas rig count, an early indicator of future output, rose by 5 to 475 in the week to July 2, its highest since April 2020, energy services firm Baker Hughes Co BKR.N said in its closely followed report on Friday. RIG-USA-BHI, RIG-OL-USA-BHI, RIG-GS-USA-BHI.
That put the total rig count up 212, or 81%, over this time last year. It was also up 95% since falling to a record low of 244 in August 2020, according to Baker Hughes data going back to 1940.
Source: Reuters (Reporting by Scott DiSavino Editing by Chizu Nomiyama)