US Adds Oil Rigs for Second Week in a Row



US Adds Oil Rigs for Second Week in a Row
The US added two oil rigs this week, marking the second week of increases.

The U.S. added two oil rigs this week, marking the second consecutive week for an increase, according to data compiled by Baker Hughes, a GE Company.

This week’s gain comes on the heels of an addition of 10 oil rigs last week. The nation’s number of active oil rigs is now 885.

The United States also added one gas rig this week.

The rig count for all but three major basins remained flat this week, including the Permian – which accounts for more than half of the nation’s oil rigs. The Granite Wash, Haynesville and Utica all added one rig apiece this week.

For the month of December, the rig count fell by two, its first decline in six months. But for the fourth quarter, the count was up 26, the fourth increase in a row, Reuters reported.

The total active rig count for this week is 1,083. This is 154 more than one year ago.



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