US energy firms add rigs for third week to highest since 2024, says Baker Hughes
XLE•US energy firms added four rigs in the week to September 25, bringing the total to 599, its highest since May 2024. The count was 50 rigs, or 9%, above the year-earlier level.
1. Rig count rises
US energy firms added rigs for a third consecutive week for the first time since July, Baker Hughes said. The total oil and gas rig count rose by four to 599 in the week to September 25, its highest since May 2024.
2. Oil and gas breakdown
Oil rigs increased by three to 455, their highest since mid-August, while gas rigs rose by one to 135, their highest since July 2023. Miscellaneous rigs held at nine. In the Permian, the count rose by one to 270, its highest since June 2025; in Oklahoma, it also rose by one, to 52, its highest since May 2025.
3. Output projections
The rig count declined by 7% in 2025, 5% in 2024 and 20% in 2023 as lower US oil prices prompted firms to focus on shareholder returns and debt reduction. The EIA projected crude output would rise from a record 13.7 million barrels per day in 2025 to 13.8 million in 2026, and natural gas output would increase from a record 107.6 billion cubic feet per day to 111.7 billion.
