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U.S. drillers add the most gas rigs in a week since December 2018

Mar 20, 2023

U.S. energy firms this week added the most natural gas rigs in a week in over four years, leading to a rise in the combined oil and gas rig count for the first time in five weeks, energy services firm Baker Hughes Co (BKR.O) said on Friday.

The oil and gas rig count, an early indicator of future output, rose eight to 754 in the week to March 17.

Baker Hughes said that puts the total rig count up 91 rigs, or 13.7%, over this time last year.

Oil rigs fell one to 589 this week, while gas rigs rose nine to 162.

U.S. oil futures

U.S. drillers add the most gas rigs in a week since December 2018