Introduction#
For the first time in three weeks, U.S. energy companies have increased the number of oil and natural gas drilling rigs. This information comes from a report by Baker Hughes, a well-known energy services firm.
Rig Count Overview#
In the week ending April 24, the total number of oil and gas rigs rose by one to reach 544. This marks the highest level since mid-April. The rig count is an important early indicator of future oil and gas production levels.
Yearly Comparison#
Despite this recent increase, the current rig count is down by 43 rigs, or 7%, compared to the same time last year. Specifically, the number of oil rigs decreased by three to 407, which is the lowest count since February. On the other hand, gas rigs saw an increase of four, bringing their total to 129, the highest since early April. The count of miscellaneous rigs remained unchanged at eight.
Trends in Rig Count#
The decline in the oil and gas rig count has been notable over the past few years, with decreases of about 7% in 2025, 5% in 2024, and 20% in 2023. This trend has been influenced by lower U.S. oil prices, which have led energy companies to prioritize returning value to shareholders and reducing debt instead of increasing production.
Conclusion#
Baker Hughes publishes its rig count report on a weekly basis, providing valuable insights into the number of active drilling rigs across the United States. This data helps analysts and investors gauge the health of the energy sector.