U.S. Drilling Activity Edges Higher as Weekly Rig Count Ticks Up
The number of active oil and gas drilling rigs in the United States moved higher this week, according to figures released Friday by Baker Hughes (BKR), the energy services firm whose weekly count is widely followed as a proxy for upstream activity.
The combined U.S. rig count reached 595, an increase of two rigs during the week and 53 more than at the same point a year ago. The count tracks active onshore and offshore rigs, offering a near-real-time signal of drilling demand across the upstream segment of the industry.
Oil and Gas Rigs Both Advance
Rigs targeting oil climbed by two to 452, standing 34 units above year-ago levels. Natural gas-directed rigs also added two, rising to 134, up 16 from the same week last year. Rigs classified as miscellaneous — which can include wells drilled for storage, disposal, or other non-exploration purposes — held steady at nine.
Both major categories now sit comfortably ahead of their 2023 comparisons, a pattern consistent with producers responding to sustained commodity prices. Baker Hughes’ count is often used alongside production data to gauge future supply, since wells drilled today can take months to bring online.
Services Names in Focus
Drilling activity is a direct revenue driver for energy services and drilling companies. Baker Hughes (BKR), which compiles the weekly data and operates across equipment and services globally, traded at $57.13 on Friday, up 1.13% from its prior close of $56.49, with a market capitalization of roughly $56.7 billion.
Smaller drilling contractor Drilling Tools International (DTI) closed flat at $2.61, valuing the company at approximately $92.1 million.
Rising rig counts can lift demand for drilling equipment, pressure pumping, and completion services, though activity levels vary by basin and operator capital plans. The Energy Information Administration’s latest weekly data on production and inventories provides additional context for how drilling trends translate into supply.
What to watch
- Next Friday’s Baker Hughes rig count release for weekly activity trends.
- EIA weekly petroleum and natural gas inventory and production reports.
- Upstream capital guidance updates as major producers report quarterly results.
- Any shifts in the oil-versus-gas rig mix amid seasonal demand patterns.
Source: original release.
