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— TrendSpider (@TrendSpider) October 21, 2023
Oct 20 (Reuters) U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since mid-September, energy services firm Baker Hughes said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, rose two to 624 in the week to Oct. 20th. Despite this week's rig increase, Baker Hughes said the total count was still down 147, or 19%, below this time last year. U.S. oil rigs rose by one to 502 this week, while gas rigs also gained one to 118.
In the Haynesville shale in Arkansas, Louisiana and Texas, gas drillers this week added three rigs, boosting the total to 40. That was the first increase in the Haynesville since early July and the biggest increase since December 2022. A year ago, there were 70 rigs operating in the Haynesville.
U.S. oil futures were up about 12% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 35% so far this year after rising about 20% last year.
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