US energy firms add rigs for second week to highest since May 2024, Baker Hughes says
BKR•Basin-level changes and outlook
In the Gulf of Mexico, the rig count fell by one to five, the lowest since September 2021.
In the Williston Shale in North Dakota and Montana, the rig count rose by three to 35, the highest since January 2025. That was also the biggest two-week gain in the Williston since August 2014.
In the Permian Shale in West Texas and eastern New Mexico, the rig count rose by one to 269, the highest since June 2025.
In North Dakota, the rig count rose by three to 31, the highest since May 2025.
The oil and gas rig count declined by 7% in 2025, 5% in 2024, and 20% in 2023 as lower U.S. oil prices prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output.
But with spot U.S. West Texas Intermediate crude prices expected to rise in 2026 for the first time in four years due to supply disruptions from the Iran war, the U.S. Energy Information Administration projected that crude output will rise from a record 13.7 million barrels per day in 2025 to 13.8 million bpd in 2026.
On the gas side, EIA projected output will jump from a record 107.6 billion cubic feet per day in 2025 to 111.7 bcfd in 2026 as demand for the fuel rises to produce electricity for power-hungry data centers and liquefied natural gas for export.
U.S. rig count rises to highest since May 2024
NEW YORK, Sept. 18 (Reuters) - U.S. energy firms this week added rigs for a second week in a row for the first time since July, energy services firm Baker Hughes said in its report on Friday.
The total oil and gas rig count, an early indicator of future output, rose by four to 595 in the week to Sept. 18, its highest since May 2024.
Baker Hughes said this week’s increase puts the total rig count up 53 rigs, or 10%, above this time last year.
