Baker Hughes data shows a net increase of 4 rigs year-over-year, with oil rigs up by 2 and gas rigs down by 1.
The US active drilling rig count climbed to 563 this week, marking a year-over-year increase of 4 rigs. Oil rigs rose by 2 to 431, though this remains 11 below last year’s level. Gas rigs fell by 1 to 124, still 10 above the same period in 2023. Miscellaneous rigs held steady at 8.
Last week’s data showed a slight decline in gas rigs, while oil rigs had remained flat. The overall rig count has fluctuated modestly in recent months, reflecting shifting energy sector priorities. Year-over-year comparisons highlight a gradual recovery in gas drilling, offset by a slower rebound in oil activity.
Market participants are monitoring rig counts as an indicator of future production trends, though immediate price reactions have been muted.