US rig count increases

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 544 units last week, according to Baker Hughes.

The number of oil rigs gained by one over the week to 411, while gas rigs remained unchanged at 122.

There were also 11 miscellaneous rigs in operation – unchanged from the week earlier.

The total number of US oil and gas rigs was down by 32, or around 5% compared to a year earlier.

By Shilpa Sharma

Please get in touch with comments or additional info to news@engine.online