Oil Drilling Continues Driving Baker Hughes Rig Tally Higher; US Adds Five

The rig count in the Permian Basin increased by one in the week ending Friday, the latest count by Baker Hughes shows, with 445 rigs active in the region.

The oil and gas rig count in the United States has increased by 85 in 2018.

Meanwhile, the Marcellus Shale saw one rig depart to end at 55 (45 a year ago), according to BHI's breakdown.

During the prior week, oil drilling activity pushed BHI's rig count above 1,000 for the first time since April 2015, and with Nymex West Texas Intermediate crude prices surpassing $67/bbl Friday, oil-focused growth in the us onshore appears poised to continue. Including 192 other land rigs drilling for natural gas and one listed as miscellaneous, there are a total of 1,008 working rigs in the country, five more than a week ago and up by 161 year over year.

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Among major oil- and gas-producing states, Texas added three rigs; Oklahoma, two; and Colorado and OH, one each. Kansas, New Mexico and West Virginia each lost a rig this week. The U.S. rig count peaked at 4,530 in 1981.

Alaska, Arkansas, California, North Dakota, Pennsylvania, Utah and Wyoming were unchanged.

Baker Hughes reported a 5-rig increase to the number of oil and gas rigs this week.

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