Author Topic: US Oil Rigs Continue to Rise Add 2 to 525 for 9th Week says Baker Hughes  (Read 703 times)


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The oil rig counts continue to rise as you would expect with rising oil and natural gas prices the Baker Hughes rig count shows.  Drillers added two oil rigs in the week to Dec. 30 with the rig count total back to 525, the most since December 2015, just 11 from the 536 rigs seen at the end of 2015.

Since a six-year low of 316 in May drillers have added 209 oil rigs in 28 of the past 31 weeks.

Total oil and natural gas rig count ended 2016 at 658, down 6 percent from the 698 at the finish of 2015.
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Source:  Baker Hughes

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