Oil drilling activity in the United States continues to pick up with rigs added this week, according to Baker Hughes rig count released Friday.
The United States gained two oil drilling rigs nationwide, while the number of rigs drilling for natural gas stayed flat, according to the weekly.
The Permian and Eagle Ford region in the state of Texas added three new rigs apiece, contributing to a net gain of five rigs for Texas. New Mexico, which has a portion of the Permian, tacked on three rigs.
However, the states of Oklahoma, Colorado, North Dakota, Kansas and Ohio all counted losses in their rig counts, potentially because of seasonably colder weather farther north.
The total U.S. rig count is now up to 931 rigs, down from a July peak of 958. The rig count has dipped for much of the fall, but rebounded in recent weeks.
Still, the total U.S. rig count is well up from an all-time low of 404 rigs in May 2016.
Oil drilling rigs currently accounts for 751 of the total. Despite the recent jump, the oil rig count is down 53 percent from its peak of 1,609 in October 2014, before oil prices began plummeting.
The United States gained two oil drilling rigs nationwide, while the number of rigs drilling for natural gas stayed flat, according to the weekly.
The Permian and Eagle Ford region in the state of Texas added three new rigs apiece, contributing to a net gain of five rigs for Texas. New Mexico, which has a portion of the Permian, tacked on three rigs.
However, the states of Oklahoma, Colorado, North Dakota, Kansas and Ohio all counted losses in their rig counts, potentially because of seasonably colder weather farther north.
The total U.S. rig count is now up to 931 rigs, down from a July peak of 958. The rig count has dipped for much of the fall, but rebounded in recent weeks.
Still, the total U.S. rig count is well up from an all-time low of 404 rigs in May 2016.
Oil drilling rigs currently accounts for 751 of the total. Despite the recent jump, the oil rig count is down 53 percent from its peak of 1,609 in October 2014, before oil prices began plummeting.
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