The number of Oil and gas rigs in the U.S. has increased by nine and has hit 1,757, and is the first gain in three weeks, according to Houston-based field services company Barker Hughes Inc.
Oil rigs increased by five to 1,395 and the number of Gas rigs was 355, with an increase of two. Miscellaneous rigs rose two to seven.
The total count stayed the same in the second quarter, after five straight declines , potentially foreshadowing a rebound in activity and an increase in field-services demand as producers respond to this year’s rise in both oil and natural gas prices.
June was the most active month for U.S. land drilling permits in more than a year, according to a Barclays Plc research note.