This week’s Baker Hughes count shows a three-site increase for the United States oil rig count, bringing the number of active oil rigs to its highest point since the end of January. The oil count now stands at 477 rigs – up 25 of the past 27 weeks – but still 68 rigs lower than the same time period last year, when the oil rig count stood at 545. Gas rigs rose by a single rig, marking four straight weeks of increases after a dual rig drop in the November 11th report. State-wise, Louisiana lost four rigs, while Colorado, North Dakota and Utah lost one or two rigs each. Texas gained seven oil and gas rigs, Wyoming gained four, and Oklahoma gained two. Activity in the Permian basin gained seven rigs—the biggest winner this week which likely comes as no surprise. Rigs in the Permian now stand at 235—which […]