US energy companies added new gas rigs for first time in 12 weeks

According to the Baker Hughes’ report, US energy companies increased their total number of oil and gas rigs for the first time in 12 weeks as of July 18. The count rose by 7 to 544, marking the biggest weekly gain since December. However, the overall number of rigs is still down 7% compared to a year ago.

US oil rigs fell by 2 to 422 this week, reaching their lowest point since September 2021. Meanwhile, gas platforms climbed by 9 to 117, Baker Hughes said.

In Texas, the top energy-producing state, the number of active drilling rigs fell by 2 to 253, which is the lowest level since October 2021, according to Baker Hughes. A similar trend was seen in the Permian Basin, where the count dropped to 263, also marking a low not seen in nearly three years. Meanwhile, in the Haynesville shale, the number of active rigs rose by 3, reaching 41, the highest since March 2024.