Corrosion Engineering | Electrical Engineering
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as high prices and prodding by the government prompts drillers to return to the wellpad.
The oil and gas rig count, an early indicator of future output, rose two to 695 in the week to April 22, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.
Since Russia invaded Ukraine on Feb. 24, the U.S. government has asked drillers to produce more oil and gas to help allies wean themselves off Russian energy.
U.S. oil rigs rose one to 549 this week, their highest since April 2020, while gas rigs also gained to 144, matching a number last touched in early October 2019.
U.S. drillers add oil and gas rigs for fifth week – Baker Hughes
