Significant Rise in U.S. Oil and Gas Rigs Reaches Highest Level Since June – Baker Hughes

February 24 (Reuters) – American energy companies have increased the number of oil and gas drilling rigs for the fourth consecutive week, as reported by oilfield services firm Baker Hughes on Friday.

The count of active oil and gas rigs, a predictor of future production levels, rose by four during the week ending February 21, reaching a total of 592.

According to Baker Hughes, the number of oil rigs in the United States grew by seven to 488, marking the highest point since September, while the count of gas rigs decreased by two to 99.