Rig count increases again as U.S. drillers add five more oil-directed rigs

HOUSTON – The U.S. rig count rose for the third week in a row on Friday, according to the latest data from Baker Hughes.

The overall rig count ended a 28-week slide last month, reporting its first increase since December on June 26.

And while the total rig count has added only four extra rigs—from 859 on June 26, to 862 on July 2 and 863 on Friday—over the past three weeks, the number of rigs seeking oil has increased sharply over the past two weeks. 

According to Baker Hughes, the number of oil-directed rigs ended a 29-week decline with the addition of 12 rigs on July 2, and this week the company reported the addition of another five rigs seeking oil, taking the current total to 645.

The Permian basin added eight oil-seeking rigs this week, while the Eagle Ford and Williston basin each lost five oil-directed rigs. 

The number of rigs seeking gas dropped two to 217, Baker Hughes said Friday. Miscellaneous rigs also declined by two to one.