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US drillers add most oil and gas rigs in a week since September – Baker Hughes

From boereport.com

U.S. energy firms this week added the biggest number of oil and natural gas rigs in a week since September, with the oil rig count also rising to its highest in six months, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15. Despite this week’s rig increase, Baker Hughes said the total count was still down 125 rigs or 16.6% below this time last year. Baker Hughes said oil rigs rose six to 510 this week, their highest since September, while gas rigs rose one to 116. The oil and gas ... (full story)

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  • Category: Fundamental Analysis