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US drillers add oil and gas rigs for second week in a row, Baker Hughes says

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U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since July 2024, energy services firm Baker Hughes said in its closely followed report on Friday.
The article from Reuters, published on February 7, 2025, reports that U.S. energy firms have increased the number of oil and natural gas rigs for the second consecutive week. According to Baker Hughes, the total rig count rose by 6 to 626 in the week ending February 7, 2025. This increase follows a trend where the count had previously dropped for eight out of the last nine weeks. Specifically, oil rigs increased by 5 to 503, while gas rigs saw an addition of 1, reaching 121. The article also notes that despite these additions, the overall rig count is still down by 143 from the same period last year, reflecting a cautious approach by drillers amidst fluctuating oil prices and economic conditions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/us-drillers-add-oil-gas-rigs-second-week-row-baker-hughes-says-2025-02-07/ ]


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