U.S. energy companies added 12 oil rigs in the week ending Nov. 9, bringing the total count to 886, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.
The natural gas rig count rose by two rigs to 195 rigs for the week, compared to 169 rigs a year earlier.
The U.S. rig count, an early indicator of future output, is higher than a year ago when 738 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.
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US oil & gas rigs |
|||||
|
Rigs |
A year ago |
Previous week |
Week ending Nov. 9 |
Week-on-week change |
YoY |
|
Oil |
738 |
874 |
886 |
12+ |
148+ |
|
Gas |
169 |
193 |
195 |
2+ |
26+ |
|
Oil & Gas |
907 |
1067 |
1081 |
14+ |
174+ |
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