US energy firms this week added oil and natural gas rigs for the first time in 12 weeks, energy services firm Baker Hughes said in its closely followed report on Friday, reports Reuters.
The oil and gas rig count, an early indicator of future output, rose by seven, its biggest weekly increase since December, to 544 in the week to July 18.
Despite this week's rig increase, Baker Hughes said the total count was still down 42 rigs, or 7% below this time last year.
Baker Hughes said oil rigs fell by two to 422 this week, their lowest since September 2021, while gas rigs rose by nine, the biggest weekly increase since July 2023, to 117, their most since March 2024.
In Texas, the biggest oil and gas-producing state, the rig count fell by two to 253, the lowest since October 2021.
In the Permian basin in West Texas and eastern New Mexico, the biggest U.S. oil-producing shale formation, the rig count fell by two to 263, also the lowest since October 2021.
But in the Haynesville shale in Arkansas, Louisiana and Texas, one of the nation's biggest and fastest-growing gas-producing regions, the rig count rose by three to 41, the most since March 2024.
The oil and gas rig count declined by about 5% in 2024 and 20% in 2023.
