Baker Hughes’ latest rig count shows U.S. oil and natural gas rigs climbed for a third consecutive week, ending a flat-to-declining trend that persisted since February. This uptick indicates operators are gradually ramping up drilling activity across key shale regions.

The current three-week streak is the first sustained increase since early February, when cold weather temporarily halted new drilling. Prior to this rebound, U.S. rig counts had fluctuated within a narrow range, reflecting cautious capital spending by energy firms.

Higher rig counts typically translate into greater demand for Baker Hughes’ drilling systems, well services and aftermarket support. Sustained momentum could bolster service-division revenues and strengthen the company’s near-term financial outlook.