The U.S. rig count posted its eight straight week of gains after adding 10 rigs last week.
According to Baker Hughes, the number of oil and gas rigs drilling in the United States rose to 491 rigs as of August 19 compared to 885 rigs a year ago.
Oil rig additions accounted for all last week’s gains.
The U.S. oil rig count rose by 10 to 406 rigs last week, still down from 674 rigs a year ago.
The gas rig count held steady from last week at 83 rigs, down from 211 rigs during the same week last year.
The directional drill count rose by one to 45 rigs, down from 78 rigs last year.
The horizontal rig count climbed by seven to 382 rigs compared to 677 rigs during the same week last year.
The vertical rig count ticked up to 64 rigs after adding two rigs, still down from 130 rigs a year ago.
Texas added eight rigs last week, the largest gain of any major producing state.
Pennsylvania added two rigs last week while Louisiana, Oklahoma and West Virginia each gained one rig last week.
New Mexico lost one rig last week and North Dakota lost two rigs last weeks.
Rig counts in Alaska, Arkansas, California, Colorado, Kansas, Ohio, Utah and Wyoming held steady from last week.
The Permian Basin, located in Texas, posted a seven rig gain last week, the largest gain of all the major producing basins.
The Cana Woodford and Marcellus Basins added three rigs a piece last week.
The Barnett Basin gained one rig last week.
The Williston Basin lost two rigs last week and the Granite Wash and Mississippian Basin dropped one rig each last week.
Canada’s rig count fell to 121 rigs after losing four oil rigs and one miscellaneous rig last week.
The Gulf of Mexico booked a one rig gain last week, bumping the play’s rig count up to 18 compared to 31 rigs a year ago.
