U.S. drilling rig count rises for fourth straight week in Baker Hughes survey

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The number of oil and gas drilling rigs in the U.S. jumped by 7 to 549, Baker Hughes reported [https://rigcount.bakerhughes.com/] Friday, the highest since June and rising for the fourth week in a row for the first time since February.

Oil rigs climbed by 6 to 424 during the week, the most since July, while gas rigs lost 1 to 117 and 8 rigs were classified as miscellaneous; despite the increase, the total rig count was down 38 rigs, or 6.5% compared to the same time last year.

The number of rigs drilling for oil in the U.S. was 60 below the year-ago level, but rigs directed at natural gas were 18 more than a year ago.

Rigs targeting oil in the Permian Basin added 1 to 253, the Eagle Ford also gained 1 to 34, and the Williston Basin remained unchanged at 29.

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