U.S. energy firms add oil, gas rigs this week
The oil and gas rig count, an early indicator of future output, was unchanged at 586 in the week to Dec. 31, Baker Hughes said.
During December, the total rig count rose by 17. For the quarter, the count was up 65, its fifth increase in a row.
For the year the count was up 235. That compares with a decrease of 454 rigs in 2020 and a decline of 278 rigs in 2019.
That puts the total rig count up 235 rigs, or 67%.
U.S. oil rigs were steady at 480 this week. ■