U.S. drillers add oil and gas rigs for 15th month in a row -Baker Hughes

U.S. energy firms added oil and natural gas rigs for a 15th month in row in October as oil prices soared to fresh seven-year highs, prompting some drillers to return to the wellpad.

For the week, the oil and gas rig count, an early indicator of future output, rose two to 544 in the week to Oct. 29, its highest since April 2020, energy services firm Baker Hughes Co (BKR.N) said in its closely followed report on Friday. , ,

That was the seventh time the rig count increased in the past eight weeks.

The total rig count was still up 248, or 84%, over this time last year.

For the month, the number of active oil and gas rigs rose by 23, putting the total count up for a 15th month in a row for the first time since August 2010 when it rose for a record 15 months.

U.S. oil rigs rose one to 444 this week, while gas rigs also gained one to 100, their highest since mid-September.

For the month, the number of active oil rigs rose by 23, putting the total count up for a 14th month in a row for the first time since July 2017.

U.S. drillers add oil and gas rigs for 15th month in a row -Baker Hughes