The U.S. rig count posted its first double-digit gain in almost a month after adding 15 rigs.
According to Baker Hughes, the number of oil and gas rigs operating in the United States climbed to 462 as of July 22 compared to 876 rigs during the same period last week.
The gains mark the fourth straight week that the U.S. rig count has increased.
Oil drillers added 14 rigs last week, pushing the U.S. oil rig count up to 371 rigs, still down from 659 rigs a year ago.
The gas rig count ticked down to 88 rigs after a one rig loss compared to 216 rigs during the same period last year.
The miscellaneous rig count increased to three rigs after a two rig gain.
The directional rig count rose to 44 rigs after a one rig gain while the horizontal rig count climbed by 13 to 357 rigs compared to 662 rigs a year ago.
The vertical rig count rose to 61 after a one rig gain last week, still down from 131 rigs during the same period last year.
Texas posted the largest gain of all the major producing states last week after adding 15 rigs.
California saw its rig count climb by two last week and New Mexico added one rig.
Alaska and Kansas each lost one rig last week while Louisiana booked a two rig loss.
Rig counts in Arkansas, Colorado, North Dakota, Ohio, Oklahoma, Pennsylvania, Utah, West Virginia and Wyoming held steady from last week.
The Permian Basin gained eight rigs weeks last week, the largest gain of any major producing basin.
The Barnett Basin gained three rigs last week while the DJ-Niobrara and Eagle Ford basins each added two rigs.
The Granite Wash and Mississippian basins added one rig a piece last week.
The Canadian rig count grew by seven to 102 rigs after drillers added three gas rigs and four oil rigs, down from 200 rigs a year ago.
Drillers in the Gulf of Mexico dropped three rigs last week, pulling the region’s rig count down to 18 compared to 31 rigs a year ago.
